64-4 The Banking Business - Corporate Governance Directive 2018

Summary

The objectives of this directive is a) to require regulated financial institution to adopt sound corporate governance principles and best practices to enable them to perform their role in enhancing economic growth in Ghana; b) to promote and maintain public trust and confidence in regulated financial institution by prescribing sound corporate governance standards which are critical to the proper functioning of the banking sector and the economy as a whole; and c) Minimise the possibility of regulated financial institution failures that are usually rooted in poor corporate governance practices.

Thumbnail image for The objectives of this directive is a) to require regulated financial institution to adopt sound corporate governance principles and best practices to enable them to perform their role in enhancing economic growth in Ghana; b) to promote and maintain public trust and confidence in regulated financial institution by prescribing sound corporate governance standards which are critical to the proper functioning of the banking sector and the economy as a whole; and c) Minimise the possibility of regulated financial institution failures that are usually rooted in poor corporate governance practices.

Issuer

Ghana

Year

2018

Region

Africa

Issuer (type)

Bank of Ghana (Central Bank)

Policy Type

Other sustainability policy

Geographical scope

National

Mandatory or voluntary

Mandatory

Main industries targeted

Finance & Insurance
Professional, Scientific, & Technical Services
Real Estate, Rental & Leasing
Transportation & Warehousing

Restrictiveness

Moderate

Sustainable Development Goals (SDGs)

SDG 5: Gender Equality
SDG 6: Clean Water and Sanitation
SDG 8: Decent Work and Economic Growth
SDG 10: Reduced Inequality
SDG 14: Life Below Water