Cryptocurrency is the next big thing - CIB President

President of the Chartered Institute of Bankers (CIB), Mrs. Patricia Sappor has urged banking professionals in Ghana to begin discussions on Cryptocurrency.

According to her Crypto Currency is the next big thing happening, noting that as at November 2017, Crypto Currencies (digital Currencies eg. Bitcoin) have reached a record of about $185 billion.

She, therefore, said industry professionals must begin to discuss issues such as: Is the Cryptocurrency a threat to banking; Will the Cryptocurrency disrupt the banking system eg. remittances; and How do we position ourselves to face the Crypto Environment in the near future.

Mrs. Sappor made this known on the occasion of the 5th annual thanksgiving service of CIB in Accra.

She said the World of banking has changed and aspects of banking have become generic in the era of digitization and customer Convenience.

In view of the evolution and revolution in the global financial industry, Mrs. Sappor said: “We as Professional Bankers will have to stay relevant and be abreast with key developments within the global and domestic banking landscape to deliver quality professional banking education in Ghana to meet the ever-changing demands of the time”.

She expressed appreciation to the Governing Council and the members of the Executive Committee for all the support given her since she assumed office.

Mrs. Sappor urged every Chartered Banker to continue to distinguish himself or herself in their various places of work.