BoG admitted as a member of Basel Consultative Group

The Bank of Ghana (BoG) has been admitted as a member of the Basel Consultative Group (BCG).

This makes Ghana one of four countries in Africa  (Ghana, Tunisia, Mauritius and Nigeria) that are members of BCG.

The BCG is one of five working groups that form the internal structure of the
Basel Committee for Banking Supervision (BCBS), the global standards-setting body for the supervision of banks.

As membership of the BCBS is limited to G20 countries, the BCG provides a platform for the BCBS to engage with non-members, thereby, facilitating broader dialogue around the work with banking supervisory authorities such as the Bank of Ghana and promoting supervisory cooperation and implementing supervisory standards
and best practices.

The Bank of Ghana’s membership of the BCG will increase the exposure of
its banking supervisory staff to best practices in the supervision of banks,
and strengthen its cooperation with other supervisory authorities around the
world.

“The Bank of Ghana remains committed to promoting the safety and
the soundness of Ghana’s banking sector through effective regulation and
supervision,” a statement from BoG announcing the membership added.