The Bank of Ghana is the central bank of the nation which means that it is saddled with ensuring that banks operate in a way that best benefits the citizens of the country.
It does so by:
- Proposing banking laws and reforms to banking laws
- Ensuring that banks engage in healthy competition
- Maintaining and regulating the credit system
- Assessing the operations of banks to ensure that their assets and liquidity are in good working order
Banks are the cornerstone of every financial system and if they fail, the whole system can collapse. By regulating banks, the Bank of Ghana is ensuring that the financial system remains stable for the benefit of all Ghanaians.
In conclusion, the regulatory oversight of the Bank of Ghana over banks in the country ensures that the financial system remains in good working order.
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