BoG urges banks to adhere to domestic regulatory requirements

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has called on commercial banks to strictly observe domestic regulatory requirements as part of a broader effort to fortify Ghana’s financial stability and sustain macroeconomic progress.

Addressing Chief Executives of Banks at a stakeholder engagement in Accra, Dr. Asiama noted that maintaining Ghana’s recent economic gains demands collaborative discipline between the central bank and financial institutions.

He stressed that compliance with local regulatory frameworks, particularly those promoting the use of indigenous insurance companies for import transactions, would help minimise foreign exchange leakages and strengthen domestic liquidity.

Dr. Asiama also encouraged banks to pursue public listings on the Ghana Stock Exchange to boost their capital adequacy, transparency, and long-term resilience.

He reaffirmed the Bank of Ghana’s commitment to working closely with the financial sector to deepen credit access for export-oriented businesses, small and medium-scale enterprises (SMEs), and agribusinesses, describing them as critical engines for sustainable economic transformation.