The Bank of Ghana Governor, Dr. Johnson Asiama, has announced new regulatory measures targeted at credit risk, liquidity and reserve requirements of commercial banks.
According to him, this is aimed at strengthening resilience, enhancing transparency, and aligning the Ghanaian banking system with the highest international standards.
The Governor disclosed this at a meeting with the chief executives of commercial banks.
According to him, these measures are aimed at “addressing both the forward-looking reforms that will future-proof the sector and the immediate corrective actions needed to close existing compliance gaps.”
Rational Behind Measures
Dr. Johnson Asiama said the credit and risk governance measures will ensure that the commercial banks will be aligned with the Basel principles. This will set minimum standards for underwriting, monitoring, and provisioning.
On liquidity and capital resilience measure, the Governor said this directive will ensure that “banks hold sufficient high-quality liquid assets to cover 30-day stress scenarios”.
In the area of market conduct and foreign exchange compliance, Dr. Asiama alluded that “We are tightening enforcement of the Foreign Exchange Act and the Guidelines for Inward Remittance Services.”
This, he added, will ensure that “No FX [foreign exchange) swaps within remittance operations, no remittance terminations without the Bank of Ghana approval, and no application of unprescribed FX rates.
Regarding the review of strategic business model, Dr. Asiama pointed out that this measure will ensure that “Forward-looking assessment of the sustainability of banks’ strategies, and this will require the full engagement of boards and senior management.”
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
