Business News of 2014-01-16

Banking sector needs efficient regulation - Terkper

The banking sector needs efficient regulation and supervision in order to win customer trust and ensure financial stability, Finance Minister Seth Terkper has said.

Government, he added, would implement policies that would enable financial service providers come out with an efficient credit delivery system.

The Finance Minister said this in a speech read for him by his Deputy Mr. Kweku Ricketts-Hagan at the official launch of the Agriculture Development Bank’s (ADB) new logo in Accra on Tuesday.

Mr. Terkper urged the banking sector to use its leadership role to help deepen and diversify the financial market.

“Ghana’s medium-term objective and strategic direction is to expand opportunities for all and reinforce the foundation for socio-economic transformation in partnership with the private sector.”