Regulatory Alerts2020-11-11
Draft Corporate Governance Directive for Rural and Community Banks
The Bank of Ghana has issued a draft directive mandating comprehensive corporate governance standards for all licensed Rural and Community Banks in Ghana. The framework imposes strict shareholding limits restricted to Ghanaians, establishes clear board composition and separation of powers between the chairperson and general manager, and requires prior regulatory approval for director appointments. Regulated institutions must implement board charters, succession plans, and annual compliance declarations to ensure fiduciary accountability, risk management, and long-term financial stability.
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