The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has underscored the critical role of trust in the banking sector, warning that when confidence in financial institutions is undermined, the effects can extend beyond individual banks to the broader financial system and the economy.
Speaking through the Director of Communications at the Bank of Ghana, Bernard Otabil, at the 30th National Banking and Ethics Conference organised by the Chartered Institute of Bankers (CIB), Ghana, the Governor stressed that ethics remains central to financial stability and sustainable growth in the banking industry.
The conference, held at the Aqua Safari Resort on Tuesday, November 10, 2026, was on the theme: “Banking on the Future: Trust, Technology and Transformation (3T Conference).”
According to Dr Asiama, the experiences from Ghana’s financial sector clean-up between 2017 and 2019 demonstrated the dangers of weak governance and unethical practices within financial institutions.
He noted that poor corporate governance, insider dealings and unethical conduct played a significant role in the collapse of some institutions during the period, emphasizing that strong capital positions and advanced technology alone cannot guarantee the stability of a bank.
“A bank can have capital and technology, but without integrity in leadership, it remains vulnerable,” the Governor stated.
Touching on cybersecurity, Dr Asiama described the issue as not only a technological challenge but also a governance and human-resource concern. He observed that many cyberattacks succeed because of human weaknesses rather than sophisticated technological breaches.
He therefore urged banks to invest in staff training, ethical awareness and robust governance structures alongside investments in digital security systems.
The Governor further highlighted the growing influence of emerging technologies, including artificial intelligence and virtual assets, noting that while they present significant opportunities for financial inclusion and operational efficiency, they must be adopted responsibly.
He cautioned that innovation should not come at the expense of integrity, accountability and financial stability, stressing that ethical considerations must be integrated into the design and deployment of new financial products and services.
Looking ahead, Dr Asiama said the institutions best positioned for future success would be those capable of balancing innovation with prudence, efficiency with fairness, and profitability with responsibility.
He commended the Chartered Institute of Bankers, Ghana, for sustaining the National Banking and Ethics Conference over the past three decades and encouraged participants to use the platform to strengthen ethical standards and prepare the banking industry for future challenges.
The annual conference brings together banking professionals, regulators and industry stakeholders to discuss emerging trends and promote high standards of professionalism and ethical conduct within Ghana’s financial sector.