Financial Sector Players Urged To Implement Policies To Grow Industry

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Major players in the financial sector have been called upon to implement policies that will ensure the growth of Ghana’s financial service industry.
Rev. Kennedy Okuson, Editor-In-Chief of Integrity Magazine, made the call in a keynote address he delivered at a roundtable discussion at the Alisa Hotel in Accra.
The event, organized by Integrity Magazine was sponsored by Fidelity Bank under the theme: “Ensuring Macro Economic stability through effective and trusted banking.”
Heavyweights in the finance industry who graced the event include Head of the Banking Supervision at the Bank of Ghana, Mr. Osei Gyasi; CEO of Charted Institute of Bankers, Mr Charles Ofori Aquah; Principal of the National Banking College, Ms. Abena Kesewa Brown and Head of Finance at Fidelity Bank, Mr. Atta Gyan.
According to him, it is time for the Banking industry to restore the confidence of clients.
His statement comes few days after the Finance Minister Ken Ofori Atta said the clean-up in the banking sector had put banks in a better shape.
He said, “For us at Integrity Magazine, whose core business is to inform, educate and entertain, we can only ask questions.”
“But we have gone a step further in our quest for answers to create this opportunity as our corporate social responsibility to offer opportunity for Banks to come together to brainstorm on steps that can be taken to ensure that the banks contribute their quota to ensuring macroeconomic stability by ensuring they are effective and trusted.”
“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.”
The discussion saw speakers after speakers take turns to give their presentations on the topic.
Head of the Banking Supervision at the Bank of Ghana, Mr. Osei Gyasi, indicated the banking sector clean-up has put banks in a better shape than they were two years ago.
According to him, banks are now better capitalised with more robust governance structures, portfolios much safer for depositors, broad liquid assets, adding that the banks have now engaged more qualified personnel to serve on their boards.
Head of Finance at the Fidelity, Mr. Atta Gyan, on the other hand, urged government and Civil Society to educate Ghanaians in the financial sector to ensure economic stability.
He said, “Government and Civil Society organisations will have to also embark on civic education.”
“Financial literacy in our economy is very low and you have situation where people pursue high returns and all you need to do is to promise that ‘I can double your money within one or two months’ and you will see people bringing money to you.
“That is evident that there is low financial literacy in the economy.”
According to the organisers, Tuesday’s event marks the beginning of series of roundtable talks with the banking sector and looking forward to engaging more stakeholders to ensure Ghana’s economy remains stable.
Rev. Kennedy Okuson touted the performance of Integrity Magazine and that it has become ‘a must read Magazine’ within Africa and beyond.
The Magazine, he said, has achieved in a rather short span of 24 months, the accolade of a must read magazine of choice within and out the continent of Africa.
According to him, the focus is good governance and leadership, original, inspirational and informative writings and reportage on good governance by respected international and local contributors.

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