Mr. Alhassan Andani

The President of Ghana Association of Bankers and Chief Executive of Stanbic Bank Ghana, Mr. Alhassan Andani has assured Ghanaians protection of their deposits going into the future.

Speaking at the JoyBusiness Financial Services Forum on ‘The Changing Tide of Ghana’s Financial Services Sector’ held at the Golden Tulip Hotel, Mr. Andani expressed confidence about the future of the Financial Services Sector following the recent clean-up of the sector by the Bank of Ghana (BOG) which plunged the sector into panic mode thereby causing the general public to lose faith in the financial systems.

“The uneasiness of the banking and Ghanaian public about the banking industry is justifiable due to the occurrences over the last two years. But relatively, Ghana’s banking sector is sound and robust especially when you consider what we have seen in other countries and I can assure Ghanaians that their deposits will be protected because of the measures the Central Bank has put in place to protect them”, Mr. Andani said.

Mr. Andani also applauded the Bank of Ghana and the Ministry of Finance for the manner in which depositors have been protected. He said that:

“There is a clean-up that is going on in the financial services sector and a critical examination of current failures of some of the banks show that it’s probably not greatly the customer’s fault.

Our customers are probably at the receiving end of what the bank does and as an industry, we want to be thankful for the way in which the BOG and the Ministry of Finance have set out to protect the depositors’ interest.”

In her comments, the Deputy Governor of the BoG, Mrs Elsie Awadzi, noted that measures put in place by the Central Bank is aimed at protecting rather than destroying the banking sector.

According to her, “the clean-up in the banking sector is meant to strengthen the banking sector and not to destroy it; it is meant to ensure that all banks meet the minimum capitalization requirement by the end of 2018.

This guarantees that the banks have a buffer in place for any occurrence that could ensue in the future. This way, depositors’ confidence in the sector is maintained and deposits are protected”.

The JoyBusiness Financial Services Forum was organized by the Multimedia Group to provide a platform for players in Ghana’s banking sector to probe and engage the public on the way forward following recent happenings in the Ghanaian banking sector.

The panelists at the forum included the Deputy Minister of Finance, Mr. Charles Adu Boahen, the Deputy Governor of the Bank of Ghana, Mrs. Elsie Awadzi and The President of the Ghana Association of Bankers and Chief Executive of Stanbic Bank Ghana, Mr. Alhassan Andani.

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