All institutions established either for profit or not-for-profit purposes manage costs in their various dealings, with the people (human resource) being the most important and likely to be the most expensive resource to acquire. All institutions therefore in their quest to cut down cost, will always look for ways to reduce the human resource population … Read more
The Bank of Ghana will commence the implementation of the Deposit Insurance scheme in the second quarter of 2018. Parliament in 2016 passed the Deposit Protection Act, which seeks to establish a deposit insurance (DI) scheme to protect depositors in the event of bank failure. The scheme, among other things, seeks to safeguard the savings … Read more
Bank of Ghana (BoG) has warned financial institutions in the country to tighten their security system to check money laundering activities. The central bank’s warning comes on the back of global money laundering developments in recent times. According to the Head of Banking Supervision at the Central Bank, Raymond Amanfo, financial institutions in the country … Read more
All banks in the country have been directed by the Bank of Ghana (BoG) to strictly comply with recommendations from a recent Asset Quality Review (AQR) exercise conducted by the Bank. The findings from the AQR which have been dispatched to all banks pointed out specific risk exposure of all banks and measures that must … Read more
The Bank of Ghana (BoG) has directed all banks to strictly comply with its recommendations from a recent Asset Quality Review (AQR) exercise conducted by the bank. The findings which have been dispatched to the banks pointed out specific risk exposure of all banks and measures that must be employed to minimize their effect on … Read more
The Bank of Ghana (BoG) has directed all banks to strictly comply with its recommendations from a recent Asset Quality Review (AQR) exercise conducted by the bank. The findings which have been dispatched to the banks pointed out specific risk exposure of all banks and measures that must be employed to minimize their effect on … Read more
The Bank of Ghana (BOG) has urged financial institutions and stakeholders within the industry to embrace regulatory requirements as they are key to a healthy financial sector. According to the BOG, the regulatory requirements and guidelines are necessary to operate a safe and sound financial sector. Ghana’s financial sector is governed by the Basel II … Read more
Dr. Johnson Asiama, the Second Deputy Governor of the Bank of Ghana has disclosed that the central bank would soon publish its new sanctions for non-compliance with provisions of the Anti-Money Laundering Act, 2014 (Act 874). According to Dr. Asiama, publishing the sanctions is in line with the amended Act which gives the BoG the … Read more
A deputy Governor of the Bank of Ghana, Johnson Asiama, has urged financial institutions to see regulatory requirements key improving the banking sector. According to him, these requirements and guidelines must be embraced to ensure that “we all operate and promote a safe and sound banking sector.” Dr. Asiama, was speaking at the recent Risk … Read more
Dr. Johnson Asiama says financial institutions should not see regulatory requirements as impediments. According to him, these requirements and guidelines must be embraced to ensure that “we all operate and promote a safe and sound banking sector.” Dr. Asiama, who was speaking at the recent Risk Summit Africa 2017 held in Accra, called on players … Read more
The Bank of Ghana(BoG) has hinted that it will soon publish sanctions for financial institutions who do not comply with the provisions of anti-money laundering acts. This it believes will level the fight against money laundering in the financial institutions. The Financial Intelligence Centre (FIC) earlier pushed for the amendment of legislations on money laundering and financial … Read more
The US Senate confirmed Wall Street banker Steven Mnuchin to be the next secretary of the US Treasury, overcoming fierce Democratic objection of yet another nominee to President Donald Trump’s cabinet. Mnuchin, a former Goldman Sachs executive, fills a crucial position in Trump’s economic team. The new president has criticized opponents for delaying his nominees. … Read more
The Bank of Ghana (BoG) has announced that it will present its final report of the proposed Minimum Capital requirement to the board of the bank by close of this year. The Bank of Ghana earlier this year met with the International Monetary Fund to design regulatory capital and the economic capital. Currently, banks are … Read more
Scriptures abound that encourage believers to give to support the work of God. A careful read of the Bible will lead you to the conclusion that God intended His children to be wealthy. Jesus Christ was supported immensely by followers who were resourceful. Christians are thus to give to support the kingdom of God and … Read more
Governments from Asia to Europe reacted with stunned disbelief on Wednesday to the victory of Donald Trump in the U. S. presidential election, while populists hailed the result as a triumph of the people over a failed political establishment. German Defence Minister Ursula von der Leyen, an ally of Chancellor Angela Merkel, described the result … Read more
Telecommunication companies are impressing on the Bank of Ghana to review the maximum amount for mobile financial service transactions in the country. The telcos argue that they are sometimes constrained over the current 5000 cedis maximum and therefore would appreciate an upward push. The suggestion also follows a new regulation on mobile financial services that … Read more