In spite of the difficulties facing the banking industry, the Bank of Ghana (BoG) has reassured its depositors that their money is safe.
The central bank also promised to take proactive measures to prevent any actions that might jeopardize depositors’ funds.
This was stated by Dr. Ernest Addison, the governor of the Bank of Ghana, during a dinner held to commemorate the Chartered Institute of Bankers’ (CIB) 60th anniversary at the University for Professional Studies (UPSA) in Accra.
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“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.
Additionally, Dr. Ernest Addison expressed confidence that the country’s economy’s progressive rebound, citing factors including a decline in inflation and the exchange rate, serves as favorable conditions for the banking sector to stay afloat.
Meanwhile, the President of CIB, Benjamin Amenumey, revealed that the institute has set up a Banking Sector Professional Development Fund as part of its anniversary celebration to support 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,” he said.
