• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Banks should be proactive in assessing and managing emerging Covid-19 related risks – BoG

5 years ago
in Banking & Finance, Cyber-security, Economy, highlights, Home, home-news, latest News
1 min read
0 0
0
82
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Second Deputy Governor of the Central Bank, Elsie Addo Awadzi, has said banks in the country are expected to be proactive in assessing and managing Covid-19 related emerging risks in the banking sector.

The emerging Covid-19 related risks in the banking sector, as noted by Dr Ernest Addison a keynote address during a webinar organized by the Ghana Association of Bankers (GAB) include cyber security, credit and operational risks.

Speaking at the same webinar, Governor Elsie Awadzi posited that banks in line with relevant provisions of the Banks and Specialised Deposit-Taking Institutions Act of 2016 and the Corporate Governance Directive of 2018, are expected to mitigate the emerging risks.

“The Bank of Ghana expects the banking industry to be proactive in assessing and managing these risks in line with relevant provisions of the Banks and Specialised Deposit-Taking Institutions Act of 2016 and the Corporate Governance Directive of 2018,” she stated.

“We expect banks to establish and constantly strengthen risk management structures, policies, strategies, and processes in keeping with the fast evolving business environment. Importantly, we also expect that effective risk management becomes embedded in the business culture of banks, supported by strong management information systems for controlling, monitoring and reporting risks,” she added.

According to her, the ability of banks to identify, measure and mitigate the emerging risks remains critical to maintaining the financial and operational resilience of the industry, the stability of the financial system and stability and recovery of the economy.

Adding the Central Bank will remain vigilant in monitoring risks faced by banks and explore effective means to help keep risks faced under control.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

“As regulators, we will remain vigilant in monitoring the risks faced by the banking industry. We continue to explore effective means to carry out our mandate to help keep risks in the industry under control. On your part, the industry must ensure that capital buffers built over the last couple of years are preserved, operational resilience is maintained, and depositors’ funds are protected, while continuing to support economic growth as far as the strength of banks’ balance sheets would allow,” she said.

Source: norvanreports
Via: Snr Fuaad Dodoo
Tags: credit and operational riskscyber securityDr Ernest AddisonElsie Addo Awadziemerging Covid-19 related risksGhana Association of Bankers (GAB)
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.