Fifth, developing countries should move to strengthen their financial infrastructure, improve the efficiency of financial intermediation, and ensure that the regulations and incentives for proper credit assessment and monitoring are in place. This is particularly important for those countries with huge quantities of domestic savings; if appropriate measures are not implemented, such countries may face further financial crises in coming years.
As the Bank of Ghana pursues this objective, alongside strengthening the regulatory and supervisory environment to restore confidence and promote stability and integrity of the banking sector, it is important that we also take concrete steps towards implementing cyber security measures to combat financial crime.