BoG urges banks to strengthen risk management amid credit growth

7, GNA – The Bank of Ghana (BoG) has urged banks to strengthen credit risk management, fraud controls, cybersecurity and liquidity frameworks to safeguard the resilience of the financial sector.

He urged banks to strengthen credit risk management and comply fully with NPL guidelines, saying the BoG would soon issue a credit risk management directive.

Dr Johnson Pandit Asiama, the Governor, BoG, said the rapid expansion of private sector credit must be supported by sound underwriting standards and effective risk management frameworks to ensure sustainable growth.