The Financial Stability Advisory Council has convened its final meeting for 2025 to review progress on key initiatives aimed at safeguarding and strengthening financial stability in Ghana. The gathering, which also marked its 25th high-level Council meeting also assessed structural challenges within the broad financial landscape.
A statement released by the Bank of Ghana said the key issues deliberated on by the High-Level Council to promote financial sector stability included but not limited to:
•The Listing of Banks on the Ghana Stock Exchange (GSE): The Council discussed and agreed on modalities to encourage the listing of banks on the GSE. This is intended to promote transparency, market discipline and financial stability, while deepening the capital market on the back of renewed confidence.
• Enhancing Consumer Protection & Market Competition: The FSC underscored the importance of safeguarding and protecting consumer rights in the financial sector. The Council tasked the Technical Committee to review frameworks of global best practices and work with relevant state agencies on enhancing consumer protection.
• Promoting financial conglomerate supervision: The Council discussed the on-going development of a supervisory framework for financial conglomerates. The FSC is finalising the reporting mechanism for the implementation of the supervisory framework.
• Collection and monitoring of real estate data: The FSC has finalized a Memorandum of Understanding (MOU) with the Ghana Statistical Service (GSS) for the collection of real estate market data. The project would commence in 2026, and it would pave way for the assessment of price and risk dynamics in the real estate sector.
• Promulgation of the Virtual Asset Service Providers (VASP) bill into Law: Following the passage of the VASP law, the FSC recognised the need to develop a risk matrix for monitoring the VASP framework to ensure regulations address key risks emanating from the virtual assets landscape.
• Preparation for FATF Mutual Evaluation: The Financial Intelligence Centre (FIC) is leading preparations for the upcoming FATF mutual evaluation in early 2026. The Council emphasised the importance of a successful assessment, as it remains critical for maintaining Ghana’s credibility in the global financial system. The Council acknowledged the need to sensitise regulators, financial sector regulated institutions, and all other relevant stakeholders on the evaluation requirements. The Council reaffirmed its commitment to proactive risk management, regulatory collaboration, and market development to ensure financial stability and resilience. The Council also remains committed to safeguarding financial stability and promoting confidence in Ghana’s financial markets.
Members of the Council
1. Dr. Johnson Pandit Asiama – Governor of Bank of Ghana (Chairman);
2. Mrs. Matilda Asante-Asiedu – Deputy Governor of Bank of Ghana (Financial Stability);
3. Hon. Thomas Nyarko Ampem – Deputy Minister of Finance (Financial Sector);
4. Dr. Abiba Zakariah –Acting Commissioner, National Insurance Commission;
5. Dr. James Klutse Avedzi –Acting Director-General, Securities and Exchange Commission.
6. Mr. Christopher Boadi-Mensah – Chief Executive Officer, National Pensions Regulatory Authority; and 7. Mr. Galahad Alex Andoh (Esq.) – Acting Chief Executive Officer, Ghana Deposit Protection Corporation.
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