Banking Industry’s Stakeholders Urged To Restore Market Confidence

Players in Ghana’s banking sector have been urged to take steps to restore customers confidence following the collapse of some banks between 2017 and 2018.

The Editor-in-chief of Integrity Magazine Rev. Kennedy Okuson, made the call at a roundtable discussion organised by the Magazine on Tuesday in Accra.

He tasked major players in the financial sector to implement policies that would ensure the growth of the country’s financial services sector.

Delivering a keynote address at the forum held at the Alisa Hotel, Rev Okosun observed that it was about time the banking sector worked to restore the confidence of clients.

The forum was themed: “Ensuring Macro Economic stability through effective and trusted banking”.

According to Rev Okosun, ” for us at Integrity Magazine, whose core business is to inform, educate and entertain, we can only ask questions.”

He stated that “but we have gone a step further in our quest for answers to create this opportunity as our corporate social responsibility for Banks to come together to brainstorm on steps that can be taken to ensure that they contribute their quota to ensuring macro economic stability by ensuring that they are effective and trusted.”

He said “this we hope will continue to build confidence of clients in the banks and open avenues for discussions and understanding of the banking reforms and how these will translate into stronger macro economy.”

Head of the Banking Supervision at the Bank of Ghana, Osei Gyasi, in his delivery indicated that the clean-up in the banking sector embarked upon by the central bank in 2018 has put the surviving banks in a better shape than they were two years ago.

According to him, banks were now better capitalised with more robust governance structures, portfolios much safer for depositors, broad liquid asset.

He added that the banks have now engaged more qualified personnel to serve on their boards.

Present at the forum were the CEO of the Charted Institute of Bankers, Charles Ofori Aquah, Principal of the National Banking College, Abena Kesewa Brown and Head of Finance at Fidelity Bank, Atta Gyan.