Highlights of Bank of Ghana Risk Management Directive, 2021
Factsheet for Chief Risk Officers
The Bank of Ghana (BoG) has introduced a draft Risk Management Directive as part of measures to ensure stability in the Ghanaian banking industry. This directive applies to Banks, Savings and Loans Companies, Finance House and Financial Holding Companies (FHC) licensed or registered under Act 930.
A key requirement of the directive among others is for Regulated Financial Institutions (RFIs) to develop and maintain a risk management framework that is appropriate for the size, business mix and complexity the institution.
The directive shall ensure all RFIs have systems in place for identifying, measuring, evaluating, controlling, mitigating, and reporting material risks that may impact its ability to meet its obligations to depositors and other stakeholders.
In this publication, we provide highlights of Bank of Ghana's Risk Management Directives.
Highlights of Bank of Ghana Risk Management Directive
