To make the system more efficient, I wish to draw your attention to some potential threats within the industry that need to be addressed in the way forward to building a strong financial sector. 30. Mr. Chairman, In 2007 the Bank of Ghana took steps to increase the minimum capital requirements of banks.
All the foreign controlled banks have complied with the new capital base of ¢ million, substantially improving their solvency. However, we observe that the longer dispensation granted domestically controlled banks to comply with the minimum requirement has rather placed them at a competitive disadvantage. 31.