Banking Regulatory and Market Framework in Ghana: Strength, Weaknesses, Opportunities and Threats
10 Pages Posted: 1 May 2016
Date Written: April 26, 2016
The purpose of this paper is to review the several reforms and regulations that were passed during and after the economy liberalization in the banking sector of Ghana and to assess whether there is adequate regulations that can protect private capital and the financial sector of Ghana. Bank of Ghana was mandated to carry out regulatory and supervisory function of the banking sector of Ghana and to institute necessary reforms that would protect the financial sector in Ghana. Some of the notable regulations that were passed in recent times in order to be abreast with the global changes included: Credit referencing bureau, Liquidity from capital injection, Basel II, Cheque clearing cycle. The study is a qualitative research involving content analysis and it employed purposive sampling methodology to selects key persons with the knowledge and expertise to contribute to the study. This study delve into details and in-depth into the banking sector of the Ghana. The paper revealed that the reforms and regulation introduced by the Bank of Ghana has contributed immersely to the social-economic development of Ghana and assessed the strengths, weaknesses, opportunities and threats of the financial sector. The study professed some recommendations that would ensure that the Bank of Ghana continues to ensure a sound, competitive and efficient financial system in Ghana.
Keywords: Bank of Ghana, Ghana, liberation, licensing, regulatory, supervision
JEL Classification: E58
Suggested Citation: Suggested Citation