As a final thought, let me note that in the coming years, Central bank policy will seek to consolidate the positive developments in the financial system. Tough decisions will be taken, particularly in addressing emerging challenges such as recapitalizing the banks. In exercising its regulatory and supervisory role, the Bank of Ghana will henceforth show least forbearance for non-compliant banks.
This will ensure that confidence and trust in our financial system is not shaken. 41. In conclusion, Mr. Chairman, I wish to reiterate that a stable and efficient financial system is a pre-requisite for economic growth and development. Greater macroeconomic stability means that banks must reposition themselves in an increasingly competitive market in which innovation; efficiency and cost-containment have become important ingredients for success.