Dr. Ernest Addison, the Governor of the Bank of Ghana, has emphasized the need for a robust commitment to ethical business practices within the banking industry.
Speaking at the 27th National Banking and Ethics Conference in Accra organized by the Chartered Institute of Bankers (CIB), Ghana, Dr. Addison urged industry players to adopt a collaborative approach to embed ethical values in the work culture.
The conference, themed “Redefining Professionalism in Banking Through Ethics,” served as a platform to launch the redesigned flagship Chartered Banker (ACIB) curriculum and an Ethics Certification Programme by CIB.
Dr. Addison emphasized the importance of creating a values-driven culture within each bank, agreed upon by both leaders and the leadership team.
He highlighted that a values-based and values-driven culture would align stakeholders, including depositors, with the bank’s ethical framework.
Addressing the issue of fraud within the industry, Dr Addison acknowledged the decline in staff involvement in fraud cases but emphasized the persistent concern.
He stressed the need to strengthen the focus on ethics and ethical behaviour to maintain public confidence in the banking sector.
The Governor underscored the importance of raising awareness of ethical issues, providing ethical training, and fostering a culture of ethics to navigate complex dilemmas and address ethical blind spots.
He expressed hope that the Institute’s focus on professionalism and ethics would contribute to building the right ethical culture within banking institutions.
Mr Benjamin Amenumey, President of CIB Ghana, acknowledged external and internal events impacting the industry’s confidence, citing the banking sector clean-up, COVID-19, and the Domestic Debt Exchange Programme.
He highlighted the alarming trends revealed in the recent Bank of Ghana fraud report and emphasized the Institute’s commitment to addressing concerns through discussions on ethics, giving voice to values, responsible banking, and sustainability.
The conference, coinciding with the 60th Anniversary of the Institute, aims to promote trust and professionalism within the banking industry for its sustainability and the development of the country.
