Dr. Bawumia Lauds BOG, Financial institutions for their roles in Ghana’s efficient payment system
The Vice President, Dr. Mahamudu Bawumia, has commended the Bank of Ghana and financial institutions in the country for the immense roles they have played towards the successful implementation of Ghana’s payment system.
Speaking at opening of the 25th Annnual Banking Conference of the Chartered Institute of Bankers in Accra on Thursday, November 18, 2021, Dr. Bawumia, who is a fellow of the Institute, enumerated a number of initiatives that have led to the country’s successful payment system, and commended the Central Bank’s effective policies and the banks” investments.
“An efficient payment system is crucial. Ghana’s progress in the payment and settlement systems have been spurred by the Central Bank’s efforts to deploy relevant domestic policies to support a well-organized payment system.,” Dr. Bawumia said.
“Ghana has made significant strides in this regard through the launch of Ghana Interbank Payment and Settlement System (GhIPSS), Real Time Gross Settlement System (RTGS), Cheque Codeline, Clearing System (CCC), the National Biometric Smartcard (E-zwich) and the National Switching and Processing System (gh-Link).”
“As banks continue to invest in digital platforms to facilitate ease in trade and transactions, adopting a more fintech approach will spur innovation for the benefit of their cherished clients.”
