In a keynote address at the 29th National Banking and Ethics Conference, the Bank of Ghana outlined a shift toward more active oversight of digital assets alongside new conduct-focused expectations for the banking industry. The central bank reported that it has commenced registration of virtual asset providers for data gathering and market assessment, and it has given approval in principle to a proposed mandatory Ethics Certification Programme for banking professionals that will feed into its fit-and-proper assessment for key management personnel and directors. On digital assets, work is underway on a Virtual Asset Service Providers Bill with the Securities and Exchange Commission and the Financial Intelligence Centre, intended to provide a legal framework covering crypto exchanges, wallet providers, custody services and issuers such as stablecoins, with due diligence and reporting mechanisms aligned to global AML/CFT requirements. The address also referenced the e-Cedi central bank digital currency pilot and pointed to strengthened foreign exchange market monitoring, alongside indicators cited for 2025 including cumulative cedi appreciation of 37.04% year-to-date (as of 17 October 2025), inflation easing to 8.0% in October 2025, gross international reserves of USD 11.4 billion (4.8 months of import cover) and a trade surplus of USD 6.8 billion in September 2025. On ethics and fraud, the 2024 Bank of Ghana Fraud Report was cited as showing a 5% increase in reported cases and a 13% rise in value at risk to about GHS 99 million, including increased staff-involved fraud and fraudulent activity within payment service providers; the central bank highlighted a partnership with the Chartered Institute of Bankers, Ghana and the Ghana Association of Banks that has produced a Ghana Banking Code of Ethics and Business Conduct and related e-learning programmes.
Bank of Ghana 2025-11-11
Bank of Ghana starts registering virtual asset providers and backs mandatory ethics certification in principle
At the 29th National Banking and Ethics Conference, the Bank of Ghana announced enhanced oversight of digital assets and new conduct expectations for banks, including a proposed mandatory Ethics Certification Programme. It is developing a Virtual Asset Service Providers Bill with the Securities and Exchange Commission and the Financial Intelligence Centre to regulate crypto exchanges. The central bank also reported a 37.04% cedi appreciation and an 8.0% inflation rate in October 2025, while addressing increased fraud cases and collaborating on a Ghana Banking Code of Ethics.