Ghana’s top financial sector regulators have convened their first high-level session of 2026, directing new institutional structures to advance bank listings and strengthen consumer protection across the financial system.
The Financial Stability Advisory Council (FSC) met on March 11, 2026, for its 26th session since establishment, reviewing sector performance and mapping out coordinated responses to emerging systemic risks. The Council’s Secretariat at the Bank of Ghana (BoG) issued a statement setting out the key outcomes.
A central agenda item was the Listing of Banks Project, an initiative aimed at guiding eligible banks onto the Ghana Stock Exchange (GSE). At the session, the Council Chair announced the formal inauguration of both a Steering Committee and a Technical Committee to drive the project forward. These committees draw membership from the Bank of Ghana, the Securities and Exchange Commission (SEC), the National Insurance Commission (NIC), the National Pensions Regulatory Authority (NPRA), the GSE, the Ghana Association of Banks (GAB), and independent capital market experts.
The Council said the initiative would diversify financing options for banks, sharpen market discipline, and deepen public confidence in the sector. This marks an operational advance from the FSC’s 25th session, held in late 2025, where the Council agreed on modalities for the project but had not yet constituted its governing bodies.
On financial integrity, the Financial Intelligence Centre (FIC) briefed the Council on preliminary outcomes from Ghana’s Third Mutual Evaluation Exercise, conducted by the Financial Action Task Force (FATF) in February 2026. The Council urged all member institutions to provide additional data to support the remaining stages of the assessment, underscoring the evaluation’s importance to Ghana’s standing in the global financial system.
Consumer protection featured prominently in the session. After reviewing presentations from multiple financial sub-sectors, the Council approved a Working Group collaboration with the Ministry of Trade, Agribusiness and Innovation (MOTAI) on the development of a national Consumer Protection Bill and a Competition Policy Bill, two legislative instruments the FSC said would reinforce rights across the financial system.
The Council also reaffirmed that sustained macroeconomic stability must translate into stronger compliance and risk management at the institutional level, calling on regulated entities to sharpen focus on their core mandates.
“The FSC remains committed to building a sound, stable and resilient financial system capable of supporting long-term economic growth,” the Secretariat statement said, adding that proactive risk identification and crisis preparedness would remain priorities for the remainder of 2026.
