Promoting good corporate governance key to financial services sector – IoD-Gh

•The Bank of Ghana has been commended for its role in promoting the culture of good corporate governance in the financial services sector

•This comes after the Institute of Directors-Ghana paid a courtesy call on the Bank

•The Institute says it is developing a charter aimed at setting standards for the practice of

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President of the Institute of Directors-Ghana, Rockson Dogbegah has commended the Bank of Ghana for its significant role in promoting the culture of good corporate governance in Ghana.

According to him, the Bank of Ghana has through its numerous policies provided transformational leadership in reforming Ghana’s financial services sector.

Giving remarks following a courtesy call on the Governor of the central bank on June 22, 2021, Mr Dogbegah praised Dr. Ernest Addison for his sterling efforts made towards keeping a robust banking sector regime.

He identified “corporate governance breaches, overbearing shareholder behaviour and related party transactional breaches as some of the factors that led to the failure of some banks in the financial sector and their consequent resolution.”

The IoD-Gh president reiterated the need for the Ghanaian society to uphold good corporate governance practices and pledged the Bank’s support for the work of the Institute especially as events in the banking sector has a rippling effect on the Ghanaian economic sector.

“The Institute of Directors-Ghana indicated that it was ready to execute a Memorandum of Understanding with the Bank to foster a sustainable relationship between the two entities,” Rockson Dogbegah revealed.

Mr. Dogbegah concluded by disclosing the IoD-Gh is developing a charter aimed at setting standards for the practice of Corporate Governance in Ghana.

Present with the President of the Institute of Directors-Ghana at the meeting were the Vice President, Rev. (Mrs.) Angela Carmen Appiah, the CEO, Mr. Fred Aryeetey, and Mrs. Belinda Dede Tandoh and Mr. Kwame Amoako, Esq., Council Members.

In the Governor’s team were the First Deputy Governor, Dr. Maxwell Opoku Afari, Second Deputy Governor, Mrs. Elsie Addo Awadzi and The Bank’s Secretary, Ms. Sandra Thompson.