BoG congratulates BEIGE Capital for impressive performance
The First Deputy Governor of the Bank of Ghana (BoG), Mr Millison Narh, has congratulated BEIGE Capital Savings and Loans on the impressive performance for the year ended 2015.
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He explained that having laid strong business structures for expansion, BEIGE Capital Savings and Loans continues to set a high standard for peers in the industry and has recorded laudable achievements which reflect the hard work and commitment of both staff and management of the Company.
He made this known in Accra, at a corporate awards ceremony organised by BEIGE Capital Savings and Loans, to honour staff and customers of the institution.
He also confirmed to customers the leadership of BEIGE Capital in the savings and loans category of financial service providers in the country.
In his address, Mr Narh urged BEIGE Capital Savings and Loans to continue to strengthen the core competencies of staff, especially in areas of risk management.
He indicated that establishing efficient internal control systems to safeguard depositors’ funds will contribute towards building up confidence and attracting more customers.
BoG pledge
He pledged the central bank’s role to improve supervision in the entire financial sector.
Mr Narh indicated that the Bank of Ghana has currently put before Parliament a Deposit Protection Bill which when passed into law would provide a safety net for depositors in the event of any institutional failure.
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He stated that the bill would seek to apply stricter prudential norms to ensure transparent and efficient operations in all financial institutions.
Mr Narh also added that the Banking and Savings Deposit Institutions Bill is also before Parliament and this seeks to strengthen the Bank of Ghana’s role in consolidated supervision, cross-border supervision of the banks, resolutions and registration of bank holding companies, among others.
He indicated that these new legislations, when passed into law, would strengthen the overall supervisory framework of the Bank of Ghana, sanitise the financial environment and engender safe and sound practices which would boost confidence in the financial sector.