“For us at Integrity Magazine, whose core business is to inform, educate and entertain, we can only ask questions,” he said. But we have gone a step further in our quest for answers to create this opportunity as our corporate social responsibility to offer the opportunity for Banks to come together to brainstorm on steps that can be taken to ensure that the banks contribute their quota to ensuring macro economic stability by ensuring that they are effective and trusted, Rev Okosun made the call at a roundtable discussion organised by the Integrity Magazine in Accra, last week.
This we hope will continue to build confidence of clients in the banks and open avenues for discussions and understanding of the banking reforms and how these will translate into stronger macro economy.
He touted the performance of the Integrity Magazine, saying it has become ‘a must read Magazine’ within Africa and beyond.
“Our focus is good governance and leadership, we also offer original, inspirational and informative writings and reportage on good governance respected international and local contributors.”
It saw the presence of the Head of the Banking Supervision at the Bank of Ghana, Mr.Osei Gyasi, the CEO of the Charted Institute of Bankers Mr Charles Ofori Aquah, Principal of the National Banking College, Ms.Abena Kesewa Brown and The Head of Finance at the Fidelity Bank, Mr Atta Gyan.
Delivering a keynote address at the forum that also brought various stakeholders in the banking sector to the Swiss Alisa Hotel,Rev Okosun said the time is up for the Banking industry to restore the confidence of clients.
His statement comes few days after the Financial minister Ken Ofori Atta said the clean-up in the banking sector had put banks in a better shape.
The discussion saw speakers after speakers take turns to give their presentations on the topic.
Banks now in better shape than before
Head of the Banking Supervision at the Bank of Ghana, Mr.Osei Gyasi, in his delivery said stated that the clean-up in the banking sector embarked upon by the central bank last year has put banks in a better shape than they were two years ago.
He said that banks are now better capitalised with more robust governance structures, portfolios much safer for depositors, broad liquid assets, adding that the banks have now engaged more qualified personnel to serve on their boards.
On his part, the Head of Finance at the Fidelity Mr Atta Gyan urged government and Civil Society must embark on educating Ghanainas in the financial sector to ensure economic stability.
“Government and Civil Society organisations will have to also embark on civic education,” he said.
“Financial literacy in our economy is very low and you have situation where people pursue high returns and all you need to do is to promise that ‘I can double your money within one or two months’ and you will see people bringing money to you.
“That is evident that there is low financial literacy in the economy.”
According to the organisers, the event marks the beginning of series of roundtable talks with the banking sector and says it looks forward to engaging more stakeholders to ensure Ghana’s economy remains stable.