Also, the recent passage of the Banks and Specialised DepositTaking Institutions Act, 2016 (Act 930) and the Ghana Deposit Protection Act, 2016 (Act 931) in particular, were to provide a suitable legal framework for banking supervision, a framework that addresses issues of emerging risks and vulnerabilities in the banking system, while nurturing innovation and financial inclusion, powers of supervision and control, receivership and liquidation, among others.
Payment Systems Developments 17. Ladies and gentlemen, as you are aware, information and communication technology (ICT) is transforming the financial services industry with rapidity. ICT is challenging the traditional banking model by providing alternative channels for banking and payments. 18.