FULL TEXT: BoG Governor’s address at Digital Banking, Innovation & Fintech festival

FULL TEXT: BoG Governor's address at Digital Banking, Innovation & Fintech festival

Governor of the Bank of Ghana, Dr. Ernest Addison Your Excellency, Alhaji Dr. Mahamudu Bawumia, Vice President of the Republic of Ghana,

Hon. Ken Ofori-Atta , Minister of Finance of the Republic of Ghana,

Hon. Ursula Owusu Ekuful, Minister of Communication and Digitalisation of the Republic of Ghana,

Hon. Tharman Shanmugaratnam, Senior Minister and Chairman of Monetary Authority of Singapore,

Deputy Governors of the Bank of Ghana , Dr. Maxwell Opoku-Afari and Mrs. Elsie Addo Awadzi,

Mr. Sunil Kaushal, CEO, Africa and Middle East, Standard Chartered PLC,

Mr. Lamin Manjang, CEO, Nigeria and West Africa, Standard Chartered PLC,

Dr. Emmanuel Kumah, Board Chairman, Standard Chartered Bank (Ghana) PLC,

Mrs. Mansa Nettey, Chief Executive Officer of Standard Chartered Bank (Ghana) PLC,

Staff of Standard Chartered Bank (Ghana) Limited,

Stakeholders in the Banking and Digital Finance Sectors,Distinguished Invited Guests,Ladies and Gentlemen.Thank you very much for the invitation to be part of today’s event, which commemorates 125 years of Standard Chartered Bank in Ghana as part of the Bank’s Digital Banking and Fintech Festival initiative.The story of Standard Chartered cannot be told without mention of the bank’s significant contribution to various sectors of the Ghanaian economy, predating independence. With commitment to strong banking principles and good corporate governance practises, Stanchart has maintained its position as a top-tier bank in terms of assets and deposits within the banking sector. It is therefore my pleasure to share in the 125-year success story and say ‘Ayekoo’ to all of you at Stanchart for carrying the torch laid by the bank’s forbearers.This Digital Banking Summit and Fintech Festival once again positions Stanchart as a trail blazer, with the foresight and preparedness towards the next generation of banking models. Based on the chosen theme of “Shaping the next phase of Ghana’s Financial Technology Landscape for the 21st Century”, I will focus my remarks on the strong foundations that have been laid, in terms of the infrastructure and regulatory frameworks, to support and strengthen Ghana’s financial digitisation agenda.Ladies and Gentlemen, banking in Ghana has changed significantly from the last quarter of the nineteenth century when Standard Chartered first opened its doors to customers more than a century ago. Presently, the industry is characterised by adoption and diffusion of technology in every sphere of banking operations.Digitisation of bank accounts has enabled customers to conduct financial services via online platforms in a seamless manner without stepping foot in the banking hall. The positive aspect of these is the broad acceptability […]

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