Central Bank moves for the passage of Deposit Protection Bill, others

The Central Bank is monitoring Parliament for the passage of two bills that would enhance the framework for the conduct of Banking Business in Ghana.

These are the Banks and Deposit Taking Institutions Bill and the Deposit Protection Bill.

The Central Bank would also from 2016, engage all banks in a process of moving to implement Base l II/III from mid-2017

Governor of Bank of Ghana, Dr. Henry Kofi Wampah, speaking at the launch of  the Capital Bank  at Kempiski Hotel  in Accra  said the move is geared towards pursuing sound policies for the development of the financial sector, including effective oversight of banking operations.

He’s therefore advised Banks to pursue viability which would guarantee the sustainability of their business through appropriate business model, sound capital and capital management as well as good corporate governance.

Meanwhile Vice President Paa Kwesi Amissah Arthur has said government is committed to work with the Central Bank and other development partners to restore macro-economic stability – the environment needed to grow the business of Banking”.

He admitted that the macro-economic challenges of the last few years has gravely affected the banking sector, and called on banks “to implement prudent lending policies, effective risk management and building capital buffers in terms for reserves from earnings”.

By: Kasapafmonline.com/Ghana