The Bank of Ghana has launched a comprehensive regulatory campaign to enhance transparency, consumer protection, and institutional accountability within the banking sector, following its June 2025 Monetary Policy Committee (MPC) meeting.
Governor Dr. Johnson P. Asiama told CEOs of licensed banks that five major policy directives are being rolled out, grounded in stakeholder feedback and aligned with broader stability goals.
Among the headline measures is a new approach to cash reserve requirements (CRR). From 5th June, banks must segregate domestic and foreign currency reserves based on deposit type—a move intended to align liquidity management with funding sources and foster FX market discipline.
In a push for consumer fairness, the BoG will cap Optional Issuer Fees (OIFs) on cross-currency card transactions at 2% and require pre-transaction disclosure. The central bank also criticized banks applying interest to inactive accounts, calling such practices unethical and demanding immediate reform.
“We cannot allow business models that erode trust or mislead customers,” said Dr. Asiama.
Attention is also turning to Ghana’s growing digital lending space. With reports of harassment, hidden fees, and exploitation, new rules—expected by August—will introduce enforceable standards across licensing, interest transparency, and ethical recovery. The BoG called on institutions to audit digital partnerships and prepare for compliance.
Efforts to restore credit discipline are also intensifying. Banks will be required to write off unrecoverable loans, cap NPL ratios at 10% by end-2026, and disclose strategic defaulters in financial statements. Monthly NPL reporting and enhanced governance will be mandated.
Meanwhile, governance lapses in foreign-owned banks have drawn regulatory ire. Dr. Asiama decried the rubber-stamping of offshore decisions and announced new rules ensuring Ghana-based boards retain final authority over key risk and credit decisions. Non-compliance could lead to sanctions or board member disqualification.
Finally, the Governor reiterated the BoG’s commitment to forward-looking supervision, flagging crypto regulation as an imminent focus area. Banks are urged to strengthen AML and cybersecurity systems ahead of new digital asset rules.
“The integrity of our financial system depends on institutions that are strong, ethical, and accountable—right here in Ghana,” Dr. Asiama stated.
