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    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

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    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

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    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

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    Africans urged to bolster adoption of Bitcoins

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    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

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BOG to fully implement Basel II & III framework by 2017

bycitibusinessnews
December 3, 2015
in Banking And Finance, Business, Top Stories
Dr. Henry Kofi Wampah, Governor of the Bank of Ghana

Dr. Henry Kofi Wampah, Governor of the Bank of Ghana

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The Bank of Ghana (BOG) has hinted of moves to fully implement the Basel II and III framework by mid – 2017.

[contextly_sidebar id=”DwJZlXg4RAbnVJKE1UEP2wfTRQl6WR64″]According to Governor of the BoG Dr. Henry Kofi Wampah, the central bank as regulators are committed to adopting international standards to ensure that banks hold capital reserves.

The Basel II and III are rigorous risk and capital management requirements which have become even more crucial following the recapitalization of banks which exposes them to more risks.

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Though initially not mandatory, Governor of BOG Dr. Henry Kofi Wampah says the new regulation has long-term benefits of safeguarding the banking sector’s solvency and the overall economic stability.

“As a central bank we will continue to pursue sound economic policies for the development of the financial sector including effective oversight of banks. In this regard we are moving to implement basel II and III from mid 2017 and we will be engaging all banks on this in the process from 2016.”

‘We are also in touch with parliament to pass two critical bills the banks and deposit taking institutions bill and the deposit protection bill to enhance the framework for the conduct of banking business in the country’. Governor of BOG Dr. Henry Kofi Wampah added.

–

By:  Norvan Acquah – Hayford/citifmonline.com/Ghana

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