In opening remarks to heads of banks following the 132nd Monetary Policy Committee meeting, Bank of Ghana Governor Dr Johnson Pandit Asiama outlined a regulatory agenda focused on credit quality, liquidity resilience and operational risks. The central bank will soon issue a Credit Risk Management Directive covering the full credit lifecycle and a Liquidity Coverage Ratio Directive requiring banks to hold enough high quality liquid assets to withstand 30 days of significant liquidity stress. These measures come as private sector credit growth reached 35.5% in August, while the nonperforming loan ratio, although lower, remained above regulatory thresholds. Banks are expected to address vulnerabilities identified through the central bank’s macroprudential stress tests and maintain sound underwriting as lending expands. The Bank of Ghana also called for independent fraud functions with direct and unrestricted access to chief executives, and is consolidating its foreign exchange requirements into a single compendium. Further work will strengthen supervision of cyber and technology risks, customer fund safeguards and third parties, alongside planned guidance on payment service providers within group structures and the responsible use of artificial intelligence. The central bank has also launched a National Remittance and Diaspora Savings Strategy with the Ministry of Finance, which is due to be developed within nine months and implemented from the first quarter of 2027. Separately, the Monetary Policy Committee maintained the policy rate at 14%, assessing inflation and growth risks as broadly balanced despite tighter global financial conditions and geopolitical uncertainty.

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