Dr. Johnson Asiamah
The Financial institution of Ghana (BoG) has reaffirmed its dedication to supervisory priorities centered on governance, anti-money laundering (AML), cybersecurity, local weather threat, and innovation oversight — with a renewed deal with digital readiness and crypto regulation.
Delivering remarks on the Submit-Financial Coverage Committee (MPC) Assembly with CEOs of Banks, BoG Governor Dr. Johnson P. Asiama emphasised that the Financial institution’s strategy to supervision will keep its continuity however deepen in scope, with higher emphasis on early warning techniques and direct board-level engagement.
“We anticipate deeper accountability and a stronger threat tradition throughout establishments — not simply compliance,” Dr. Asiama acknowledged.
Crypto regulation on the horizon
The Governor disclosed that the BoG, in collaboration with the Securities and Change Fee (SEC) and different related stakeholders, is finalizing a complete regulatory framework for cryptocurrencies and digital belongings.
“It will deliver readability, mitigate dangers, and assist accountable innovation according to international requirements,” Dr. Asiama famous, signaling a proactive stance on a quickly rising monetary sector development.
He urged monetary establishments to begin getting ready instantly for the incoming regulatory framework by:
- Strengthening AML/CFT and KYC protocols for purchasers dealing in digital belongings;
- Investing in safe IT infrastructure and cyber defenses;
- Taking part within the BoG’s regulatory sandbox for crypto-related pilots;
- Educating purchasers on crypto dangers and compliance obligations;
- Assessing institutional publicity and inside readiness for crypto actions.
“That is now not a theoretical challenge. The market is evolving. Regulation is coming. And monetary establishments should be prepared,” the Governor burdened.
As a part of its evolving supervisory framework, the BoG plans to boost forward-looking supervision, guaranteeing that threat detection and regulatory intervention occur earlier and extra successfully.
This consists of extra direct interplay with financial institution boards and a tradition shift from tick-box compliance to lively threat administration.
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