examine some of the difficulties associated with the financial system of banks in Ghana and how these challenges have been addressed by the Banks and Specialised Deposit Taking Institutions Act 2016 (Act 930). Are there any novel ways by which some of the challenges may be resolved in your opinion?
Answers
Answer:
no idea
Explanation:
Answer:
Explanation:
The government of Ghana is pursuing a policy that provides appropriate mechanisms to minimise financial system instability and deal with emerging risks using effective supervision and regulatory measures. Through the policy, the government seeks to make the financial sector of the country the preferred source of finance for domestic companies and further develop, strengthen and modernise the financial sector to support the government’s economic vision and transformational agenda. The Bank of Ghana (BoG) shall support the general economic policy of the government by promoting economic growth, effective and efficient operation of banking and credit systems in the country. The BoG, in order to create a stable and efficient financial system, has the following on its agenda:
increased disclosure requirements for financial institutions in line with Pillar III of the Basel accord;
strong capital adequacy of financial institutions so that they will be Basel II and III compliant;
and effective supervision and regulatory measures.