Bank of Ghana to enforce action against financial institutions neglecting customer complaints
The Bank of Ghana has announced its intention to take action against financial institutions that do not adequately address customer complaints and reported irregularities.
The central bank is urging these institutions to enhance their customer complaint systems and extend their reach to underserved communities.
During a Workshop for Consumer Reporting Officers of commercial banks, Elsie Addo Awadzi, the Second Deputy Governor of the Bank of Ghana, emphasized the importance of collaboration with all stakeholders in ensuring effective complaint resolution.
She stressed that the Bank of Ghana’s commitment to consumer satisfaction remains a key aspect of its financial inclusion agenda. Mrs Awadzi also encouraged financial institutions to proactively engage with underserved communities to promote financial inclusion.
Dr. Joseph France, the Head of the Financial Stability Department at the Bank of Ghana, echoed the sentiment of collaboration. He stated that the central bank would maintain its engagement with financial institutions to improve the overall customer experience.
Additionally, he highlighted that there could be punitive measures imposed on institutions that fail to adequately address customer issues.
The statements made by the Second Deputy Governor and the Head of the Financial Stability Department at the Bank of Ghana, reflect the Bank of Ghana’s dedication to enhancing customer protection and satisfaction within the financial sector.
It underscores the importance of a robust complaint resolution mechanism and the role it plays in promoting trust and confidence in the financial industry.
