The Securities and Exchange Commission (SEC) has rolled out a regional education campaign dubbed: “Time with The SEC,” which started in Takoradi. The initiative forms part of SEC’s strategic thrust of educating members of the investing public and other key stakeholders on the Commission, the Ghanaian Capital Market and other important investment topics. The Commission, in a press release issued in...
The ARB Apex Bank Limited, which serves as a “mini” central bank for Rural & Community Banks (RCBs) says the increase in different types of fraud in rural banks is a course for concern. According to the Bank of Ghana’s Banks & SDI Fraud Report for the year 2020, Banks and rural community banks recorded the highest cash suppression related...
Data published by the Bank of Ghana has shown that growth in deposits of commercial banks have been fluctuating in the last eight months, with figures in August even showing a decline, a development banking consultant, Dr. Richmond Atuahene, has attributed to the difficulty private sector is facing in the current pandemic-hit climate. The Summary of Economic and Financial report...
The expansion of banking operations on digital platforms spurred by the COVID-19 pandemic, has provided cyberattack opportunities to those who are up to no good, Dr Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana has observed. Addressing cyber security risks, therefore, “has become more important than ever and policymakers need to internalise this fact in their discourse”, he...
The National Insurance Commission (NIC) in June 2019 announced a new capital requirement for insurance companies operating in the country after a series of consultations and discussions between the industry players and the regulator. The new capital regime saw the stated capital for life and non-life insurance companies move from GH¢15 million to GH¢50 million, with that of reinsurance companies...
…as maiden Banking Consumer Satisfaction Index report launched The Chartered Institute of Marketing Ghana (CIMG) has carried out the country’s maiden Consumer Satisfaction Index (CSI) report, focusing on the banking sector for the pilot study. The index seeks to measure service quality, customer satisfaction and customer loyalty, as well as establish a standard customer satisfaction index for the banking industry, and...
Following more than a year of implementing Rule 30, the Ghana Stock Exchange has revealed that it is reviewing impacts of the amended guideline for further action to be taken. The Exchange in June 2020 alerted the stock market of intended implementation of its amended trading rules on price movement for the Exchange. Rule 30 – new trading rules – was...
Atuahene calls on gov’t to pay debt owed sector A new report by the Bank of Ghana has shown a worrying trend of growing non-performing loans in the assets of commercial banks, a situation banking consultant Dr. Richmond Atuahene blames on challenging economic conditions and government debt owed the private sector. The summary of Economic and Financial data (September 2021) has...
-GhIPSS boss tells shop owners Businesses are being encouraged to find innovative ways to get their customers to choose electronic payment channels over cash. This is to enable such businesses to have less cash on them and reduce their exposure to robbery and pilfering. There are concerns of robberies on the highways, in shops and other places and in most instances...
Bank of Ghana is seeking to significantly reduce Automatic Teller Machine (ATM) and cyber-related fraud with the setting up of a Financial Industry Security Operating Centre, to ensure a safer cyberspace for the banking sector in Ghana. The assurance follows a rise in the number and value of ATM fraud cases and other types of fraud, as captured in the...
