Financial Sector clean-up: Persons implicated unfit to hold key positions-BoG
A statement signed by the Bank’s Secretary, Sandra Thompson noted also that this directive is to ensure ‘the continuous fitness and propriety of significant shareholders and persons, serving as directors and key management personnel,” of the RFIs.
The Bank of Ghana has reminded Banks and Specialised Deposit-taking Institutions that persons and former directors implicated in the 2017-2019 Financial Sector Clean-up are unfit to hold similar key positions.
The Central Bank, in its quest to promote the safety and soundness of RFIs, has further reminded them of their obligation under the “Banks and Specialized Deposit-Taking Institutions Act, 2016(ACT 930) and the Fit and Proper Persons Directive, 2019.”
A statement signed by the Bank’s Secretary, Sandra Thompson noted also that this directive is to ensure ‘the continuous fitness and propriety of significant shareholders and persons, serving as directors and key management personnel,” of the RFIs.
Furthermore, the Bank of Ghana has reiterated the fact that significant shareholders, directors, and key management personnel ought to be of good repute and possess significant knowledge, skills, and experience at all times in their oversight and management functions.
Also, the release indicates that the 2019 Fit and Proper Standards considers whether a person has been a director of, or directly involved in the management of any institution which had its license revoked, wound up by the court, or gone into receivership, insolvency, or involuntary liquidation.
The BoG has meanwhile entreated Banks and Specialised deposit-taking institutions and the general public to take note of the above.
