The Bank of Ghana has been presented with the prestigious Central Bank of the Year Award by the Central Banking Awards Committee. The award follows the bank’s successful implementation of monetary policy and impressive achievement in reforming the banking sector in Ghana. The usual awards dinner which was slated for March 2020, in Brussels, Belgium …
Month: October 2020
About GH¢10.8 million will be disbursed to the accounts of 340 customers of liquidated Fund Management Companies by close of Monday, October 12, 2020. Mr Kofi El-Awuku, the Managing Director of GCB Capital Limited, the implementer of the Government bailout package, told the Ghana News Agency that the process for another batch of payment to …
SEC issues new guidelines for market operators; Custody, Fund Managers need GHS50m, GHS2m to operate
The Securities and Exchange Commission (SEC) has issued new operating guidelines and a corporate governance code that will regulate the capital market and enhance confidence in the sector. The new directive is in accordance with Section 209 of the Securities Industry Act 2016, (Act 929). The guidelines include licensing requirements for market operators, regulatory sandbox …
The European Union (EU) has said that although it has blacklisted Ghana, there is no evidence of money laundering on any official of the Akufo-Addo-led government. According to the Head of Delegation of the EU to Ghana, Ambassador Diana Acconcia, Ghana ended up on the list because it failed to comply with checks that could …
Absa Bank Ghana has partnered the Ghana Girl Guides Association (GGGA) to empower young women on how to make sound financial decisions. The GGGA “Be Inspired” weekly sessions which has become the perfect platform to engage members of the Association, was designed to support members with relevant insights on developmental and economic issues in these …
The Bank of Ghana (BoG) has cautioned the general public against the practice of “Money Doubling”, “Card Loading” and “Credit Card Loading Systems”. According to the central bank, these practices involving inviting members of the general public through traditional and social media outlets to deposit money with “Money Doubling”, “Card Loading” and “Credit Card Loading …
The Bank of Ghana (BoG) has noted in its Financial Review Report for 2019 that Total financial system assets expanded in the period under review. The assets of the financial system increased to GHC186.11 billion at end-December, 2019 from GH?168.42 billion at end-December, 2018. The improvement in the asset of the financial system was on …
The Bank of Ghana (BoG) has noted in the Executive Summary of its Financial Stability Review report that the banking sector remained sound and robust to severe stress test scenarios, featuring significant increases in credit impairments, extreme movement in interest and exchange rates, and liquidity pressures. The BoG added also that risk emanating from cross-border …
Ghana’s Embassy in Belgium capital Brussels, has been ordered by its banker to withdraw all its money so that the bank will proceed to close the embassy’s accounts. The ING Bank has not given any reason for the decision to close the embassy’s accounts, but says the decision is irreversible. The embassy has up to …
The Bank of Ghana has said Ghana’s economy is very likely to bounce back from the coronavirus shocks faster than expected. First Deputy Governor of the Bank of Ghana, Dr Maxwell Opoku-Afari, has said even though the country experienced a contraction in business activities in the second quarter of this year, the Central Bank’s Composite …