Daily Archives - June 17, 2022
17Jun

Recent global shocks require Central Banks in Africa to coordinate monetary policy measures—Addison

The Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has emphasised the need for Central Banks in Sub-Saharan Africa to coordinate monetary policy measures, aimed to help stabilise prices on the African continent. According to him, the impact of recent geopolitical tensions and the COVID-19 pandemic on developing countries underscore the need for increased harmonisation of monetary policy...

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17Jun

Bank of Ghana oversees GH₵7.9 million refund, compensation payments

The Bank of Ghana (BOG) has by the end of the year 2021 secured monetary compensations and refunds totalling about GH₵7.9 million for complainants. Regulated Financial Institutions (RFI) paid complainants whose complaints were lodged, investigated, and found justifiable based on the BoG market conduct rules for its regulated entities. A breakdown of the total amount, which was captured in the annual...

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17Jun

Don’t hide from your debtor banks – BoG advises borrowers

Don’t hide from your debtor banks - BoG advises borrowers THE Bank of Ghana (BoG) has advised the general public, especially borrowers, not to hide from their financial institutions because they owe them. It said hiding from their obligations undermined the cardinal principle of banking, which was trust. The Head of the Conduct Supervision Unit of the central bank, Augustine Donkor, said...

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17Jun

Recapitalization positioned banks to weather the pandemic storms – Addison

Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said the decision to clean-up the financial sector prior to the pandemic, together with the COVID-19 relief measures introduced by the central bank in the wake of the pandemic, positioned banks to weather the storms associated with the pandemic and sustain lending to support economic activity. Some nine local banks,...

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17Jun

Introduction of GhanaPay complements measures to accelerate Ghana’s migration to electronic payments – Governor

The Governor of the Bank of Ghana, Dr. Ernest Addison, says, the introduction of GhanaPay complements the measures to accelerate Ghana’s migration to electronic payments. He is therefore encouraging the banking sector to collaborate and further explore more pioneering ways to attain greater efficiency in the payments ecosystem. Speaking at the launch of a new payment platform that will complement mobile...

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17Jun

DBG would help address market failures in Ghanaian credit markets – BoG

The Bank of Ghana has stated that the official commencement of full-scale operations of the newly launched Development Bank Ghana, DBG, would help address market failures in the Ghanaian credit markets. Speaking at the launch of the bank on Tuesday, 14th June 2022, Governor of the Bank of Ghana, Dr. Ernest Addison, noted that experiences from countries show that DFIs...

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17Jun

Bank of Ghana receives Central Bank’s Fintech Policy of the Year 2022 Award

The Bank of Ghana has won the Central Banking’s FinTech Policy of the Year Award 2022 under the FinTech and RegTech Global Awards run by Central Banking. Central Banking Institute unveiled the winners of its fifth annual FinTech RegTech Global Awards on June 14, recognising the technological achievements of central banks, supervisors and commercial tech providers. The award scheme according to...

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17Jun

CIIG calls for harmonised standards, regulations for insurers under AfCFTA

Umbrella body of insurance professionals in Ghana, the Chartered Insurance Institute of Ghana, is calling for a harmonised standards and regulations for insurance firms, as a means to optimise the full potential of the African Continental Free Trade Agreement (AfCFTA). According to the institute, the varied capital requirement for member states under the pact could pose as hinderance to insurers’...

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17Jun

Zenith Bank CEO and IoD-Ghana Discusses Directors’ Charter Bill, Corporate Governance Code

The Institute of Directors-Ghana (IoD-Gh) has engaged the Managing Director and Chief Executive Officer (CEO) of Zenith Bank Ghana Limited, Mr Henry Onwuzurigbo, on the status of a draft Directors’ Charter Bill and the National Corporate Governance Code (NCGC). Mr Rockson Kwame Dogbegah, President of IoD-Gh, who paid a courtesy call on the CEO with a delegation from the IoD-Gh,...

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17Jun

BoG to augment channels of complaints with implementation of fully-fledged Contact Centre

The Bank of Ghana is far advanced in the implementation of a full-fledged Contact Centre, the deployment of the new complaint management software and a ChatBot solution to augment the channels of complaints and provide convenience to customers when lodging complaints. This is part of measures to improve complaint resolution. It is coming after it received a total of 857 complaints...

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