Regulatory Alerts2020-06-22
Bank of Ghana Corporate Governance Directive 2018
The Bank of Ghana issued this directive to mandate comprehensive corporate governance standards for licensed banks, savings and loans companies, finance houses, and financial holding companies. It requires clear board oversight, separation of the chair and chief executive officer roles, strict fit-and-proper criteria for key management personnel, and robust risk management with internal controls. Institutions must implement succession planning, regulate related-party transactions on non-preferential terms, and submit annual board certifications detailing compliance and identified deficiencies to the regulator.
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