The risk management guidelines have been designed to provide a framework within which regulated Rural and Community Banks (RCBs) will establish a culture of risk management in their respective institutions.
The risk management guidelines take their root from the Banks and Specialised Deposit Taking Institutions Act, 2016 (Act 930), as well as best practices of the Rural Banking subsector.
The risk management guidelines will ensure among other things that, RCBs have a structured approach to risk management that meets the minimum standards expected of them.
The guidelines set out the minimum standard provisions on policies and procedures that would have to be covered in the various policies and procedures manuals used by the RCBs.
The guidelines will also 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.
Draft Rural Bank Industry Risk Management Guidelines by Fuaad Dodoo on Scribd
