And they are doing so, we believe, in an atmosphere of fair competition and in a stable, predictable and liberal regulatory framework. We urge other banks as well as the locally owned Ghanaian Banks to emulate these strong standards, especially the strengths of its corporate governance. 14. As I have highlighted earlier, the financial sector in Ghana is solid, well-capitalized, and healthy.
New sources of systemic risk The globalisation of finance, the liberalisation of financial markets and rapid technological change have opened up new opportunities in commerce for achieving economies of scale, and facilitating the international rationalisation of production and distribution. The resulting benefits include productivity growth and improving living standards. Innovations like derivatives improve the efficiency of financial markets.