In this regard, the Bank has secured the assistance of a long-term advisor to help the Banking Supervision Department strengthen its supervisory processes. The Bank of Ghana will continue to dialogue with both domestic and external stakeholders in these efforts to develop a well-functioning banking system to support the growth and development objectives of the country.
Mr. Chairman, the issue of request for waivers of the single obligor limit has persisted largely because no bank has the capacity to single-handedly finance most oil-related transactions. In the absence of a workable syndication system in the industry, the central bank has often had to flout its own rules in risk management. This practice cannot continue.