The Minister for Education, Dr. Yaw Osei Adutwum, has challenged the Governing Council of the Chartered Institute of Bankers, Ghana (CIBG) to strive to ensure that the country's banking sector becomes globally competitive in its pursuit of higher banking services in the country.

"You need to put in place prudent strategies and measures to make you competitive not just in Africa but the other parts of the world by adopting global best practices,” he said.

Dr. Adutwum said this when he inaugurated the 11-member Governing Council of the Chartered Institute of Banking, Ghana in Accra on Friday.

The Council headed by Benjamin Kwabla Amenumey swore the oath of office and oath of secrecy with the mandate of managing affairs of the banking sector.

The Education Minister stated that "you are being ushered into an office to help shape the future of banking in the country. The capacity of the banker would determine where we should go. The development of that capacity is in your hands. The development of the human capital is very crucial in the development of this country".

Dr. Adutwum recounted how the sector was hit by a major crisis in the past and commended President Akufo-Addo for the effort he made in revamping it.

He urged bankers in the country to offer the best they could to improve the quality of banking.

"You cannot improve the quality of service if those at the helm of affairs do not have the right capacity,” he noted.

The Minister called on bankers in the country to consider recruiting some brilliant Senior High School graduates into the banking industry instead of only recruiting university graduates since there are many talents in that space too.

The Chairman of the Governing Council, Benjamin Kwabla Amenumey, in his acceptance speech, lauded President Akufo Addo for the trust reposed in them to serve on the Council.

He stated that the CIBG has been strategically positioned to provide the much-needed support to the financial services sector, especially the banking industry to contend with the multiple challenges occasioned by regulation, competition, disruptive models and technologies as well as the skill sets and competencies required by practitioners to deliver the required results by banks.

The Chairman said the inauguration would enhance the Institute's mandate to promote the study of banking and regulate the practices of the banking profession in Ghana and beyond as mandated by the Chartered Institute of Bankers Ghana Act, 2019 (Act 991).

Mr. Amenumey assured the government that the new council is determined to continue to develop ethical and professional bankers to support the growth of the banking sector.

He explained that all the members of the Council would bring out their diverse expertise in the sector to bear to build on the noble achievements and legacies of their predecessors by pursuing initiatives that will propel the Institute forward to even greater heights.

The Director in charge of General Administration at the Education Ministry, Catherine Appiah-Pinkrah, in her welcome address, said as the professional body for the sector, there is a need for the Association to ensure that they help develop the competencies and qualifications of its members .