GHANA’S FINANCIAL SECTOR STABLE, STRONG AND ALIVE, SAYS BANK OF GHANA

ACCRA– Contrary to speculation that Ghana’s banking sector is unhealthy, the Bank of Ghana (BoG) has assured the public that the sector is stable, strong, and alive, and that it has put stringent measures in place to protect customers’ deposits.

The central bank on Tuesday also reiterated that it was committed to ensuring a stable financial system in the country to facilitate the rapid growth of businesses.

Speaking at the Graphic Business and Stanbic Bank Breakfast Meeting in Accra, Elsie Awadzi, the Second Deputy Governor of the BoG, said the central bank would strictly enforce the banking rules and urged the public to support the BoG in its quest to sanitize the sector.

The forum, which was attended by players in the financial sector to share views on critical issues relating to business and the well-being of the country’s economy, was held the theme, Liquidity and Solvency Management: Boosting the Health of Banking in Ghana.

Awadzi said: We acknowledge that we made some mistakes in the past and that had resulted in some of the issues we had in recent times which involves institutions such as UT Bank, UniBank and Capital Bank. It happened as a result of non-enforcement of some laws.

We have come out to say we will not shield any bank, we will enforce the rules swiftly. We are taking steps to sanction financial institutions that do not comply with the laid down rules to ensure sanity.

She urged the public to do its bit by being vigilant, doing fact checking before making an investment and asking their financial institutions probing questions, including the kind of business their investment was being used for.

Source: NAM NEWS NETWORK

   

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GHANA’S FINANCIAL SECTOR STABLE, STRONG AND ALIVE, SAYS BANK OF GHANA

ACCRA– Contrary to speculation that Ghana’s banking sector is unhealthy, the Bank of Ghana (BoG) has assured the public that the sector is stable, strong, and alive, and that it has put stringent measures in place to protect customers’ deposits.

The central bank on Tuesday also reiterated that it was committed to ensuring a stable financial system in the country to facilitate the rapid growth of businesses.

Speaking at the Graphic Business and Stanbic Bank Breakfast Meeting in Accra, Elsie Awadzi, the Second Deputy Governor of the BoG, said the central bank would strictly enforce the banking rules and urged the public to support the BoG in its quest to sanitize the sector.

The forum, which was attended by players in the financial sector to share views on critical issues relating to business and the well-being of the country’s economy, was held the theme, Liquidity and Solvency Management: Boosting the Health of Banking in Ghana.

Awadzi said: We acknowledge that we made some mistakes in the past and that had resulted in some of the issues we had in recent times which involves institutions such as UT Bank, UniBank and Capital Bank. It happened as a result of non-enforcement of some laws.

We have come out to say we will not shield any bank, we will enforce the rules swiftly. We are taking steps to sanction financial institutions that do not comply with the laid down rules to ensure sanity.

She urged the public to do its bit by being vigilant, doing fact checking before making an investment and asking their financial institutions probing questions, including the kind of business their investment was being used for.

Source: NAM NEWS NETWORK

   

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