The Central Bank of Ghana has introduced a new set of business regulations and corresponding sanctions to effectively regulate the microfinance industry.
Limits of risk management and effective corporate governance practices are outlined in the sixty-six-page document.
It also emphasises the need for boards of the companies to act collectively with management to put some orderliness in their operations.
Banking Consultant with the Osei Tutu II Centre for Executive Education and Research, Nana Otuo-Acheampong, indicates injecting governance practices into the guidelines is appropriate.
For more on this story visit the following link: Bank of Ghana Introduces New Business Regulations, Sanctions to Improve Governance of Microfinance Sector
Source: Ghana Web