‘Let’s salvage banking profession’

First Deputy Governor of Bank of Ghana (BoG), Millison Narh, has called for drastic measures to salvage the image of the banking profession in the country According to him, the recent influx of unscrupulous people in the sector was worrisome.

He called for vigilance and exhibition of high professional standards. Mr Narh, who made this known at the inauguration of BoG Association of Chartered Bankers (BOGACB) in Accra, said trust was crucial in financial services delivery.

He said inappropriate behaviour of the Ghanaian bankers could inhibit deposit mobilisation and wealth creation. Mr Narh said, “It’s high time we put professionalism at the forefront of our banking activities to promote a healthy banking culture among the populace and also ensure fair competition among all players in the banking sector.”

He said the sustainability and survival of the banking system depends solely on professionals, adding that chartered bankers are expected to play a key role in this endevour. He said the current Information Technological environment has revolutionised banking within the past decade.

Bank management has moved from the era of one branch operation to multiple branch network and also virtual banking, he indicated. “As the dynamism of the banking sector changes, key management staff of banks need to have the right banking knowledge and professionalism in order to ensure prudence and efficiency.

“It is my belief that the banks would encourage their employees to join professional bodies including the Chartered Institute of Bankers in order to shape them for complicated banking world ahead of us.” Mr Narh said Bank of Ghana has undertaken a number of reforms to ensure financial stability.

He commended the foresight of chartered bankers at the Bank of Ghana for their pioneering role in the formation of the association which is expected to be replicated across all banks in Ghana. The Bank of Ghana Association of Chartered Bankers has 71 members who are associates of the Chartered Institute of Bankers.

The Association intends to serve as a link between members in Bank of Ghana and the Chartered Institute of Bankers (Ghana) to make a meaningful impact in the Bank. The association also wants to promote the interest of professional bankers in the Bank and facilitate continuous professional development.