A Banking Consultant has called for stricter banking reforms to avert future crisis.<\/p>\n
Dr Richmond Atuahene says Ghana\u2019s banking crisis is yet about starting, contrary to claims by the Central Bank Governor that reforms in the banking sector have been completed.<\/p>\n
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Dr Atuahene argues that the banking sector still faces issues with suspicious human resource and bad corporate governance practices.<\/p>\n
He was speaking at the Respected CEO\u2019s Breakfast Series in Accra on Tuesday.<\/p>\n
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\u201cEven though there are new regulations and reforms, these can\u2019t stand if we don\u2019t crack the whip and ensure full compliance. If we leave them to do what they want, do expect serious ramifications \u2013 something worse than the recent banking crisis,\u201d he said.<\/p>\n
Managing Director of the Ghana Amalgamated Trust (GAT), Eric Otoo, also argued that even though confidence level in the banking sector has waned, new reforms being introduced including the GAT will help strengthen the sector.<\/p>\n
According to him, \u201cwith the coming on board of new reforms, the confidence level in the banking and finance sector is expected to rise. What we need now are strong regulations backed by strong corporate governance,\u201d he revealed.<\/p>\n
The Respected CEOs Breakfast Series was organized by the Business and Financial Times. The event saw experts from both government and private sector exchange ideas on solutions to Ghana’s financial sector.
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