The Governor of the Bank of Ghana (BoG) Dr. Johnson Asiama has asked commercial banks to strictly adhere to domestic regulatory provisions to help strengthen the country’s financial system and sustain economic stability.
Speaking at a meeting to engage banks CEOs, Dr. Asiama emphasized that consolidating recent macroeconomic gains requires a joint effort between the Bank of Ghana and the banking industry.
He urged banks to comply with key local regulatory measures, including the use of local insurance companies for import coverage, to help reduce foreign exchange leakages and improve local liquidity.
“In the same spirit, we urge banks to adhere to domestic regulatory provisions, including the use of local insurance companies for import coverage to help reduce foreign exchange leakages and build local liquidity”, he said.
Dr. Asiama further encouraged financial institutions to take active steps toward public listing to enhance capital strength, transparency, and long-term growth prospects.
The Governor reiterated calls for banks to continue supporting export-oriented financial products, SMEs, and agribusinesses as part of efforts to promote sustainable economic growth.
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