BOG announced that it 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 BCBS, the global standard-setting body for the supervision of banks.
As BCBS membership is limited to G20 countries, the BCG provides a platform for BCBS to engage with non-members and facilitate broader dialog with banking supervisory authorities such as BOG and to promote supervisory cooperation and implement supervisory standards and best practices. BOG's membership of 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 worldwide. BOG remains committed to promoting the safety and soundness of the banking sector in Ghana through effective regulation and supervision.
Related Link: Press Release
Keywords: Middle East and Africa, Ghana, Banking, Basel, Basel Consultative Group, Banking Supervision, BOG
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