Pulse.com.gh logo

BoG to amend guidelines for commercial banks on loans

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

The Bank of Ghana (BoG) has said that it has started the process to amend its risks guidelines for commercial banks.

The Governor of the BoG made this known in a speech read on his behalf by Grace Akrofi at the Annual General Meeting of the Ghana Association of Savings and Loans Companies in Accra.

This means that commercial banks will soon have new guidelines on the quantum of loans they can advance to their clients.

READ ALSO: Foreigners can’t dominate our economy – Nana Addo

It forms part of measures to reduce the high non-performing loans in the banking sector.

Grace Akrofi said that “other guidelines and directives have also been finalized and ready to be issued for the industry.” These guidelines include those on mergers, acquisitions, owner and control, guidelines for financial holdings and outsourcing guidelines among others.

READ ALSO: Telcos complete installation of Kelni GVG servers

She said that the BoG is committed to ensuring that the financial institutions improve their governance practices, internal control, and risk management.

She argued that this can be done when Boards and senior management of financial institutions practice sound corporate governance and comply with the provisions of the corporate governance directives to increase productivity in the sector.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Economy Bawumia says 'cedi depreciation temporary': Adviser says it...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Menzgold Ghana Investment company closes down its Gold Vault Marketbullet
4 Salaries In 2018 Here are the dates public workers will be paid in...bullet
5 Free Decoder Promo StarTimes launches most affordable pay-tv...bullet
6 Shirley Frimpong-Manso and Ken Attoh owe The Royal Bankbullet
7 Economy of Ghana Foreigners can’t dominate our economy –...bullet
8 NaBCo Here's what you need to apply for the Nation...bullet
9 Ghana Cedi Mahama shades Bawumia over Cedi depreciationbullet
10 Star Phone Services One Smart Star opens its first...bullet

Top Videos

1 Money Alert Meet Africa's richest womanbullet
2 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
3 Video We are determined to move Ghana beyond aid - Bawumiabullet
4 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
5 Forbes 2018 Africa's billionaires rich listbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 New Phones Nokia MWC 2018 Event in 5 minutesbullet
8 Entrepreneurship How to be resourceful as an entrepreneurbullet
9 Support Finance minister buys Kantanka carbullet