The Ghana Association of Banks has assured that despite the end of the period given for customers of financial institutions to update their data with the Ghana Card, they will be able to still carry out banking transactions even without the card. The directive regarding the update of the data of customers of financial institutions was issued by the Bank...
The Economic and Organized Crime Office (EOCO) is warning the public about fraudulent banking transactions. EOCO in a statement signed by Head of Public Affairs, Faustina Lartey on June 30, noted that “fraudsters have taken advantage of the ongoing call for bank customers to link their accounts to their Ghana Cards.” “The Economic and Organised Crime Office has noticed with great concern the...
The Bank of Ghana has pledge to continue to monitor the rapid evolution of risks in the digital financial services ecosystem and recalibrate rules and supervisory approaches and tools to help mitigate them. It will also ensure that regulated institutions effectively manage the risks that their businesses and actions or inactions pose to the entire system. Speaking at the Annual General...
The Chief Executive Officer of the Ghana Association of Bankers, John Awuah, says the issue of the involvement of bank staff in banking sector frauds should not be solely blamed on compensations and remunerations. According to him, this untoward behavior has more to do with the degenerating moral fabric of the Ghanaian society than remunerations. Speaking on JoyNews’ PM Express Business...
Insurance companies that participated in the maiden insurance fair organised by the Ghana Insurance Association (GIA) in collaboration with Graphic Business, have engaged the public on the various insurance policies available to them. The three-day event which started last Wednesday, June 22 and ended last Friday, June 23, 2022, formed part of the insurance awareness month. It was also aimed at...
Economics Professor and the Director of the Institute of Statistical, Social and Economic Research, Prof. Peter Quartey has bemoaned the seeming lack of action against persons engaged in the illegal trade of foreign exchange, especially the US Dollar, in different parts of the country. According to him, the informal foreign exchange market is contributing to the volatility in the space. A...
The Bank of Ghana (BoG) has been elected as the African Financial Inclusion Policy Initiative (AfPI) Vice Chair. Seychelles however takes over as AfPI Chair. AfPI Leaders’ Roundtable will therefore be held in Seychelles in 2023. The Central Bank of Seychelles took over as the Chair of AFI’s African Financial Inclusion Policy Initiative (AfPI) from the Bank of Tanzania. Prof. Florens D.M.A Luoga,...
KfW, the German development bank, has reaffirmed that its partnership with the recently launched Development Bank Ghana (DBG), which was signed in December 2021, seeks to provide much-needed support to the Small and Medium-sized Enterprise (SME) sector and thereby promote the sustainable development of the Ghanaian economy based on a model similar to its own. Specifically, this partnership has been...
The Ghana Incentive-Based Risk-Sharing System for Agricultural Lending (GIRSAL) is pledging a capital injection of GH¢2billion from now until 2027 in assist of monetary establishments’ lending to gamers in the agricultural sector. Speaking on the relaunch of the corporate’s operations and introduction of a Stakeholder Convening and Advocacy Platform in Accra yesterday, Board Chair Yaw Ansu mentioned GIRSAL has since...
Consistent with global best practices, the Ghana Stock Exchange (GSE) will introduce dedicated guidelines for standards on Environmental, Social, and Governance (ESG) reporting for listed companies by the end of the year, its Deputy Managing Director, Abena Amoah, has indicated. The move represents an additional layer in efforts by the regulators and operators of the Accra bourse to deepen capital...
