Currently the Bank of Ghana and the Ministry of Finance have reviewed and approved the Terms of Reference for the Legal consultants to draft a Deposit Insurance law for industry. It is our expectation that the Deposit Insurance Agency would become operational by end December 2014 and that could afford some protection to all depositors. 20.
The key challenge going forward to the banking industry is how to maintain the continued high levels of profitability over the medium to longer-term and more particularly, when the interest rate environment begins to shift its course.