{"id":448049,"date":"2017-12-19T08:34:10","date_gmt":"2017-12-19T08:34:10","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/"},"modified":"2017-12-19T08:34:10","modified_gmt":"2017-12-19T08:34:10","slug":"no-license-for-new-banks-in-2018-bog","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/","title":{"rendered":"No license for new banks in 2018 \u2013 BoG"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Monday, 18 December 2017<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>citibusinessnews.com<\/p>\n<p>2017-12-18<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/07\/70435275.295.jpg\" alt=\"Dr. Ernest Addison Proper.jpeg\" title=\"Dr. Ernest Addison Proper.jpeg\" width=\"295\" height=\"157\" \/><span class=\"image_caption\"><span>Governor of the Bank of Ghana, Dr. Ernest Addison<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125813973067\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125813973067\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/12\/1513672450_111_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\">The Bank of Ghana (BoG) has given the strongest indication that it may not license new banks in 2018.<\/p>\n<p>It is not clear if this is the first time the Bank of Ghana is considering taking such a decision, but according to the central bank, the move is aimed at creating space to strictly implement the new capital requirement of 400 million cedis in 2018.<\/p>\n<p>Currently, there about 35 banks in the country.<\/p>\n<p>Speaking at an event in Accra, the Governor of the Bank of Ghana, Dr. Ernest Addison explained that the decision is to prevent entry of new banks with low capital requirement.<\/p>\n<p>According to him, the decision will afford the central bank time to carefully monitor financial institutions as most of them are expected to meet their new capital requirement next year.<\/p>\n<p>\u201cTo rationalize the banking system to ensure efficiency, we are considering not licensing new banks, savings and loans, or microfinance institutions during the next year, as we implement the recapitalization plans of existing banks\u201d.<\/p>\n<p>He explained that \u201cWe should not allow the potentially insolvent banks to enter the industry, adding that \u201cWe need to manage entry to ensure that, down the line, we do not then have to manage exit as we did this year\u201d.<\/p>\n<p>Dr. Addison was of the view that the move will equip the regulator to adequately evaluate the financial sector to identify specific areas that require special attention to achieve government\u2019s transformational agenda.<\/p>\n<p>\u201cThis will help us to ensure solvency and stability in the banking sector at the end of the reform process,\u201d he said.<\/p>\n<p>He stated that the Bank of Ghana will also use the opportunity to announce a new licensing regime for the financial sector to protect customers\u2019 deposits.<\/p>\n<p>\u201cThe Bank of Ghana will introduce a new licensing regime that will align with the overall financial sector landscape to deliver a strong, solid, well capitalized, and geographically diversed financial landscape. That is the vision to support the government\u2019s transformational agenda,\u201d he assured.<\/p>\n<p>Meanwhile, Dr. Addison has warned that the central bank will be tough on banks in complying with their corporate governance structure in 2018.<\/p>\n<p><!-- uploaded by: 3 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 18 December 2017 Source: citibusinessnews.com 2017-12-18 Governor of the Bank of Ghana, Dr. Ernest Addison The Bank of Ghana (BoG) has given the strongest indication that it may not license new banks in 2018. It is not clear if this is the first time the Bank of Ghana is considering taking [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":405767,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-448049","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>No license for new banks in 2018 \u2013 BoG - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"No license for new banks in 2018 \u2013 BoG - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Monday, 18 December 2017 Source: citibusinessnews.com 2017-12-18 Governor of the Bank of Ghana, Dr. Ernest Addison The Bank of Ghana (BoG) has given the strongest indication that it may not license new banks in 2018. It is not clear if this is the first time the Bank of Ghana is considering taking [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"No license for new banks in 2018 \u2013 BoG\",\"datePublished\":\"2017-12-19T08:34:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/\"},\"wordCount\":378,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/\",\"name\":\"No license for new banks in 2018 \u2013 BoG - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2017-12-19T08:34:10+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/12\\\/19\\\/no-license-for-new-banks-in-2018-bog\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"No license for new banks in 2018 \u2013 BoG - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/","twitter_card":"summary_large_image","twitter_title":"No license for new banks in 2018 \u2013 BoG - Ghanamma.com","twitter_description":"Business News of Monday, 18 December 2017 Source: citibusinessnews.com 2017-12-18 Governor of the Bank of Ghana, Dr. Ernest Addison The Bank of Ghana (BoG) has given the strongest indication that it may not license new banks in 2018. It is not clear if this is the first time the Bank of Ghana is considering taking [&hellip;]","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/"},"author":{"name":"","@id":""},"headline":"No license for new banks in 2018 \u2013 BoG","datePublished":"2017-12-19T08:34:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/"},"wordCount":378,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/#primaryimage"},"thumbnailUrl":"","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/","url":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/","name":"No license for new banks in 2018 \u2013 BoG - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/#primaryimage"},"thumbnailUrl":"","datePublished":"2017-12-19T08:34:10+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2017\/12\/19\/no-license-for-new-banks-in-2018-bog\/#primaryimage","url":"","contentUrl":""},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2017\/#website","url":"https:\/\/www.ghanamma.com\/2017\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2017\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/448049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/comments?post=448049"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/448049\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/media?parent=448049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/categories?post=448049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/tags?post=448049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}