The Bank of Ghana (BoG) has revised its Anti-Money Laundering (AML) and Combating the Financing of Technology (CFT) guidelines to make it relevant and respond to current needs, Governor Dr Ernest Addison has said. The move, he said, was to promote local and international confidence in the Ghanaian banking sector. Speaking at the 2020 annual dinner of the Chartered Institute of...
… as move prevented economic recession The central bank, through its COVID-19 interventions in the financial sector, injected more than GH¢4billion into the economy – which contributed to prevention of an economic recession the Governor, Dr. Ernest Addison, has said. With the country faced with a serious threat of economic recession that had the potential of eroding all the gains achieved...
INTENSIVE publicity on GhQR code is expected to begin shortly, to create awareness about QR Code and its benefits to shoppers and merchants. The Ghana Interbank Payment and Settlement Systems (GhIPSS) with support from financial institutions, FinTechs and other partners will use various platforms, including social media, as well as radio and television to educate the public and encourage...
SIC, the insurers of the GCB Bank Liberty House Branch at Katamanto in Accra have commenced processes to assess damage and pay claims as may be necessary to the company following a fire outbreak at the facility on Saturday. Speaking to Citi Business News, Head of Corporate and Special Risk at SIC, Emmauel Simpiney-Mensah said his outfit is in talks with...
SIC, the insurers of the GCB Bank Liberty House Branch at Katamanto in Accra have commenced processes to assess damage and pay claims as may be necessary to the company following a fire outbreak at the facility on Saturday. Speaking to Citi Business News, Head of Corporate and Special Risk at SIC, Emmauel Simpiney-Mensah said his outfit is in talks with...
The Bank of Ghana (BoG) is developing a licensing policy for digital banks, Governor Dr Ernest Addison has said. He explained that the licensing policy had become necessary to regulate the activities of entities that operate digital banks. Dr Addison, who disclosed this in response to a question on what the BoG was doing to promote digital payment system in the...
The Monetary Policy Committee of the Bank of Ghana has kept the policy rate at 14.5 per cent. At its meeting on Monday, 23 November 2020, the Governor of the Bank of Ghana, Dr Ernest Addison said the Committee noted that global GDP growth rebounded in the third quarter of 2020 after the “sharp fall in the second quarter, but...
Chief Executive Officer of FBNBank Ghana, Victor Yaw Asante, says banks must reshape their products and services by providing a consolidated offering to meet shifting customer expectations. He believes the shift in customer preferences will drive their demand for seamless banking transactions across different channels; instant payment on all transactions that are reliable and secure without any delay or interruptions;...
Head of the Economics Division at the Institute of Statistical, Social and Economic Research (ISSER), University of Ghana, Professor Peter Quartey says defunct banks that collapsed as a result of the banking sector clean up had ample time to make things right. He made the comments on the Super Morning Show during a discussion on the country’s increased debt stock. In...
The Governor of the Bank of Ghana, Dr Ernest Addison, has said the banking sector of the Ghanaian economy remains financially strong. He said the banking sector remains liquid, profitable and well-capitalized with strong buffers to withstand adverse shocks and support the country’s recovery efforts from the pandemic. Speaking at the Monetary Poly Committee press conference in Accra, Dr Addison said asset quality...
