The Bank of Ghana is planning to increase the capital reserve requirement of commercial banks from GHS60million to GHS120 million.
Already, new entrants are required to pay Ȼ120 million as capital reserve in agrrement with undertaken risks.
The central bank announced that it si undertaken the move due to current financial developments in the country.
The Bank of Ghana is currently engaging the stakeholders on the smooth implementation date, yet to be announced.
The bank is further expected to improve its regulation and supervisory roles through a new banking act before parliament.
The new bill will have innovative new measures to protect depositors’ funds, and enhance the Bank of Ghana’s independence.
Some experts in the banking industry are optimistic the decision will encourage banks to put in capital to march the extent of risk they want to take in the economy.
