The Financial institution of Ghana Governor, Dr. Johnson Asiama, has introduced new regulatory measures focused at credit score danger, liquidity and reserve necessities of economic banks.
In keeping with him, that is geared toward strengthening resilience, enhancing transparency, and aligning the Ghanaian banking system with the best worldwide requirements.
The Governor disclosed this at a gathering with the chief executives of economic banks.
In keeping with him, these measures are geared toward “addressing each the forward-looking reforms that can future-proof the sector and the quick corrective actions wanted to shut present compliance gaps.”
Rational Behind Measures
Dr. Johnson Asiama mentioned the credit score and danger governance measures will be certain that the business banks will probably be aligned with the Basel rules. This may set minimal requirements for underwriting, monitoring, and provisioning.
On liquidity and capital resilience measure, the Governor mentioned this directive will be certain that “banks maintain ample high-quality liquid property to cowl 30-day stress eventualities”.
Within the space of market conduct and international trade compliance, Dr. Asiama alluded that “We’re tightening enforcement of the International Trade Act and the Tips for Inward Remittance Companies.”
This, he added, will be certain 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.”
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