Trust and Ethics Remain Foundation of Banking – Bank of Ghana Governor Dr Asiama
Story by: Regina Bless
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has emphasised that trust remains the foundation of banking, warning that when confidence in financial institutions is weakened, the consequences extend beyond individual banks to affect the wider financial system and the economy.
He made the remarks in a speech delivered on his behalf by the Director of Communications, Bernard Otabil, at the 30th National Banking and Ethics Conference organised by the Chartered Institute of Bankers (CIB), Ghana, at Aqua Safari Resort on Tuesday, November 10, 2026.
Speaking as Special Guest of Honour, Dr Asiama stressed that ethical conduct and good governance are essential pillars of financial stability and the long-term sustainability of the banking industry.
Reflecting on Ghana’s 2017–2019 financial sector clean-up, the Governor noted that poor corporate governance, insider dealings and unethical practices contributed significantly to the collapse of some financial institutions.
He explained that while banks may have adequate capital and advanced technology, they remain vulnerable without integrity and accountability in leadership.
On cybersecurity, Dr Asiama observed that the challenge goes beyond technological protection, describing it as equally a human and governance issue. He noted that cyberattacks do not always succeed through sophisticated techniques, as human weaknesses within institutions can also expose banks to security threats.
He therefore urged financial institutions to invest not only in technology but also in staff training, human capacity development and strong governance systems.
The Governor further acknowledged the opportunities presented by emerging technologies, including Artificial Intelligence (AI) and virtual assets, particularly in promoting financial inclusion and operational efficiency.
However, he cautioned that innovation must not come at the expense of integrity, accountability and financial stability. He stressed that ethical considerations must be incorporated into the design and development of new financial products rather than treated as an afterthought.
Looking ahead, Dr Asiama said the future of banking would depend on institutions capable of combining innovation with prudence, efficiency with fairness, and profitability with responsibility.
He also commended the Chartered Institute of Bankers, Ghana, for sustaining the National Banking and Ethics Conference for three decades and encouraged participants to use the discussions to strengthen ethical standards and prepare the banking industry for emerging challenges.
This year’s conference was held under the theme: “Banking on the Future: Trust, Technology and Transformation (3T Conference)