“There is scope for further easing if macroeconomic condi­tions continue to improve. For the banking sector this opens a win­dow to re-examine lending strate­gies, broaden access to credit, and support private sector-led growth, while still managing risks prudent­ly,” the Governor, Dr Johnson Pandit Asiama, stated during a Post-Monetary Policy Committee meeting with heads of banks.

Speaking on the theme “Trans­lating Macroeconomic Gains to Sustainable Banking Sector Growth,” he said the BoG’s mon­etary policy stance had begun to shift toward supporting growth, and it was critical that banks align by stimulating credit to the private sector, particularly to productive areas of the economy.

Dr Asiama stressed that this must be done with prudent risk management to ensure that credit expansion did not compromise the quality of loan books.

“The challenge is to growlending while preserving the hard-earned stability that now defines our financial system,” he said.

Outlining the Bank’s regulatory and compliance agenda, the Governor said a consolidated set of measures would soon be implemented to strengthen resilience, enhance transparency, and align Ghana’s banking system with the highest international standards.

The package, the Governor said included a new Credit Risk Management Directive aligned with Basel principles to set minimum underwriting, monitoring, and provisioning standards; a Bancassurance Directive to strengthen governance in bancassurance arrangements; a Large Exposures Directive to limit concentration risk; and new guidelines to encourage loan portfolio diversification.

On liquidity and capital resilience, the Governor indicated that the forthcoming Liquidity Risk Management Directive would require banks to hold sufficient High-Quality Liquid Assets to cover 30-day stress scenarios.

He said it would also close loopholes in reserve requirements, clarify the treatment of e-money float accounts, and reinforce capital planning through the Internal Capital Adequacy Assessment Process.

Dr Asiama said BoG would also tighten enforcement of the Foreign Exchange Act and remittance guidelines, prohibiting the use of unapproved channels for remittance terminations and the application of unprescribed exchange rates.

“Effective immediately, all banks and payment service providers must submit weekly inward remittance reports detailing transactions and forex credits to Nostro accounts. Failure to do so will attract sanctions,” Dr Asiama cautioned.

The Governor said Ghana’s macroeconomic position had strengthened considerably, with inflation falling to 12.1 per cent in August 2025, the lowest in nearly four years, and gross international reserves reaching $11.1 billion (4.8 months of import cover) by the end of June.

The Cedi, he noted, had appreciated by more than 40 per cent against the dollar year-to-date, while economic growth reached 5.3 per cent in the first quarter, supported by robust agricultural and services output.

As a result of those gains, Dr Asiama said the Monetary Policy Committee reduced the policy rate by 300 basis points to 25.0 per cent, signalling a cautious shift toward growth support.

The Governor stated that the banking sector was “well-capitalised, liquid, and profitable,” with non-performing loans on the decline and stronger balance sheets.

He urged banks to channel more credit into productive enterprises, support Small and Medium-scale Enterprises, finance critical infrastructure, and leverage digital innovations.

“The stability we enjoy today was hard-won. It is now our joint responsibility to ensure it is not only preserved but leveraged for sustainable and inclusive prosperity,” he stated.