The Financial Stability Advisory Council (FSC) has reaffirmed its commitment to safeguarding Ghana’s financial system, following its first meeting of 2026 to review sector developments and emerging risks.
The meeting, held on March 11, marked the 26th session of the High‑Level Council. It focused on coordinated regulatory action, stronger risk management and enhanced consumer protection.
In a statement issued by its Secretariat at the Bank of Ghana, the Council said sustained macroeconomic stability remained vital to the financial system.
It urged regulated institutions to strengthen their mandates, particularly in risk management and compliance.
The Council received a briefing from the Financial Intelligence Centre (FIC) on preliminary outcomes of Ghana’s ongoing Third Mutual Evaluation Exercise conducted by the Financial Action Task Force (FATF) in February 2026.
It emphasised the importance of the exercise and called on member institutions to provide additional data and information for subsequent stages of the assessment.
Members were also updated on progress under the Listing of Banks Project, which seeks to support the gradual listing of eligible banks on the Ghana Stock Exchange (GSE).
The Council Chair announced the inauguration of the Steering Committee and Technical Committee, comprising representatives from the Bank of Ghana, Securities and Exchange Commission, National Insurance Commission, National Pensions Regulatory Authority, GSE, Ghana Association of Banks and independent market experts.
The FSC noted that the initiative would broaden financing opportunities for banks, enhance market discipline, promote transparency and strengthen public confidence in the banking sector.
The Council also deliberated on consumer protection strategies presented by various financial sub‑sectors and stressed the need to uphold consumer rights across the system.
It approved the Working Group’s collaboration with the Ministry of Trade, Agribusiness and Innovation on the development of the national Consumer Protection Bill and the Competition Policy Bill.
The FSC said it remained committed to building a sound, stable and resilient financial system to support long‑term economic growth.
It emphasised proactive risk identification, coordinated regulation and continuous improvement in crisis preparedness and market integrity.
Source: GNA
