Dr. Ernest Addison, Governor of the Bank of Ghana, has assured depositors that their funds are safe despite recent issues in the banking sector.
He stated that the central bank will take aggressive measures to prevent any conduct that may jeopardise depositors’ funds.
He delivered the remarks at a banquet commemorating the Chartered Institute of Bankers’ (CIB) 60th anniversary, which was hosted at the University for Professional Studies (UPSA) in Accra.
“This notwithstanding, let me use this opportunity to once again assure the public that, on the back of the DDEP and other risks that may emerge in the banking sector, the Bank will continue to closely monitor developments and, where need be, take appropriate and decisive actions to address the same. Also, the Bank will ensure that depositors’ funds remain safe and that the financial system remains stable and resilient,” he stated.
He noted that Ghana’s economy was recovering from the issues, noting factors such as a fall in inflation and the exchange rate as favourable conditions for the banking industry to stay afloat.
According to Benjamin Amenumey, President of CIB, the institute has established a Banking Sector Professional Development Fund as part of its anniversary celebration to encourage leadership development.
“The Institute launched a Banking Sector Professional Endowment Development Fund dubbed “60 for 60,” which is GH¢60 million for 60 years. This fund is to support talent and leadership development. I call on our stakeholders: Bank of Ghana, Universal Bank, development partners of the institute to contribute generously to fund this program.”