As part of measures to embrace opportunities available in the payments and financial space, Access Bank has brought together industry stakeholders to review the bank’s payment strategy in relation to global trends and available opportunities at a workshop. The workshop on the theme ‘Open, Secured and Connected Payment Systems – The Future for Banks’ saw seasoned professionals from the Fintech,...
The issue of private-sector lending continues to remain a problem as stakeholders in the banking sector have expressed worry about the high cost of borrowing for the actors in the private sector. Managing Director of the National Investment Bank, Samuel Sarpong, in interaction with Citi Business News, attributed the crowding out of private-sector lending to the high demand for financing...
Staff of Banks and other Specialised Deposit-Taking Institutions involvement in fraud, constituted 53.46% of total fraud cases in 2021, a report by the Bank of Ghana has noted. This canker continued to increase in the year under review. Statistics indicate that staff involvement in fraud cases increased to 278, as compared to 253 in 2020, representing an increase of 9.88% in...
Insurance companies have been urged to rely on research to develop policies that meet the needs of customers. Such policies could motivate the public to patronise insurance packages and help usher in a regime of increased insurance coverage for the growth of the economy. An insurance expert, Emmanuel Baba Mahama, made the call when he was speaking at a Graphic...
Fidelity Bank Ghana Limited has been named the Most Safety and Security Conscious Company of the Year; Best Company in Data Security Management and Best Company in Fire Safety and Security Management at the 2022 Health, Environment, Safety & Security (HESS) Awards held recently in Accra. The Managing Director of Fidelity Bank Ghana, Julian Opuni, emerged winner of the HESS Exemplary...
A 4-member delegation, led by the Governor of the Bank of Namibia, MrJohannes Gowaxab, has paid a courtesy call on the Governor of the Bank of Ghana (BoG) Dr Ernest Addison, to seek mutually-beneficial relationships between the two central banks and also to learn best practices from BoG. The Governor of the Bank of Namibia, MrJohanessGowaxab, eulogised Governor Addison for...
The Bank of Ghana (BoG) and the Cyber Security Authority (CSA) met on Tuesday, 21st June 2022 at the BoG Head Office in Accra, to discuss collaborative ways to improve cybersecurity in the banking sector and to discuss various ways of collaborating to implement the Cybersecurity Act, 2020 (Act 1038). The discussions were led by the First Deputy Governor of...
As a consequence of the rapid shift toward more technologically-inclined financial services delivery, as well as a similar move in consumer behaviour, digital and soft skills have emerged as the most in-demand areas of competence banks are seeking. “We have seen an uptick in demand for programmes focusing on digitalisation, technology as well as soft skills,” underscored Principal of the...
The National Insurance Commission is embarking on measures to significantly reduce undercutting and ensure fair treatment of customers. This is coming after it warned insurance companies to refrain from undercutting since it is impeding the growth of the industry. Already, public confidence of insurance is very low Speaking at the opening of the Weija Branch of Imperial General Insurance, Head of Core...
The newly launched wholesale bank, the Development Bank Ghana, has assured that it will implement effective measures to ensure it funds are used to support key sectors of the economy. Universal banks in the country, for some time now, have been accused of using a chunk of their funds to invest in less risky government securities instead of giving such...
