Monthly Archives - February 2020

BoG revises licensing procedures for banks – Governor

The Bank of Ghana (BoG) has revamped its structures and procedures for licensing with more thorough due diligence and capital verification processes, following the clen up exercise that was carried out which resulted in the collapse of some nine domestic commercial banks, Dr Ernest Addison, Governor of the BoG, has said. He added that the BoG introduced an enhanced process...

Cleanup of financial sector responsible for current economic stability–BoG

The Bank of Ghana (BoG) says the current financial stability being experienced in the country is as a result of the prudent way it undertook the financial sector clean. Between 2017 and 2019, the central bank embarked on an exercise that saw over 420 financial institutions including banks, microfinance companies, as well as savings and loans companies among others been...