Dr Ernest Addison, the Governor, Bank of Ghana on Tuesday urged banking institutions to put in place effective cyber risk management policies to secure and safeguard their systems against possible cyber-attacks.
He said the digitization of the banking systems would be eroded if adequate investments were not made for the effective protection of the information technology and security infrastructure.
Dr Addison stated at the 24th National Banking conference organized by the Chartered Institute of Bankers (CIB), Ghana on the theme; “The Changing Banking Landscape: Leverage the Impact of COVID-19 to be Future Ready”.
He said BoG had put in place policies such as consumer recourse mechanism guidelines, disclosure, and product transparency rules, as well as cybersecurity directive to promote operational efficiency in the sector.
He charged the banks to invest in digital banking platforms to enhance financial inclusion, adding that financial technology would be a game-changer in the sector to meet the needs of clients.
Dr Addison said the use of digital and mobile banking platforms to conduct banking transactions had…
