The Bank of Ghana (BoG) is expected to soon outdoor the Ghana Banking Code of Ethics for best banking practices in the country.
The creation of the Ghana Banking Code of Ethics by the BoG in collaboration with the Chartered Institute of Bankers Ghana and the Ghana Association of Bankers, is aimed at reducing fraud cases in the banking sector as well as boost risk management practices.
Speaking to norvanreports on the soon to be launched banking code of ethics, President of the Chartered Institute of Bankers, Patricia Sappor, averred her outfit is committed to significantly reducing fraud cases in the banking industry.
Adding that, the Institute’s curriculum had been adjusted to incorporate the new code of ethics as well as support the digital drive of banks.
The Ghana Banking Code of Ethics follows the recently launched Risk Management Guidelines for Rural and Community Banks (RCBs).
The Risk Management Guidelines are to provide RCBs with the needed guidance to protect their institutions from losses; protect and attract capital; instill confidence in the regulator and other stakeholders through the adoption of measures that promote stability in Rural Banks and the wider financial sector.
