Kofi Assan

The Bank of Ghana has organised a day’s financial literacy sensitisation programme for officers of the Ghana Immigration Service in the Western region.

The financial literacy covered banking services as well as consumer rights and responsibilities.

The event was to increase awareness of key financial consumer protection issues to enhance consumer confidence in the banking sector.

According to the Central Bank, there has been an increase in the number of complaints lodged against licensed institutions in respect of products, services, and practices.

BoG educates staff of Ghana Immigration Service in Western Region on financial literacy

Most of these complaints, according to the regulator of the banking industry, borders on issues such as non – disclosure of key information, wrongful application of interest on loans, imposition of unexplained charges, payment of remittances to wrong beneficiaries, and other forms of financial fraud.

However, a critical observation from the complaints by the Central Bank, points to the knowledge gap on the part of some consumers, regarding financial and banking-related issues .

BoG educates staff of Ghana Immigration Service in Western Region on financial literacy

Western Region Manager of the Bank of Ghana, Kofi Assan, intimated that it is therefore imperative that stringent efforts are made to create the needed awareness to boost consumer confidence.

Head of External Dispute Resolution of the Bank of Ghana, Rev. Kwasi Twum, also spoke of the critical role the Ghana Immigration Service plays in the fight against money laundering and other cross-border crimes, and as such their knowledge of the financial sector should always be enhanced.

BoG educates staff of Ghana Immigration Service in Western Region on financial literacy

Speaking on behalf of the regional commander of the Ghana Immigration Service, DCOI Dr. Price Asiama, ACI Beatrice Okpoti was hopeful that the sensitisation will further enhance the Service’s drive at curbing financial irregularities at the borders.

Participants were taken through presentations on rights and responsibilities as a financial consumer, customer complaints resolution procedures as well as creating a culture of Anti Money Laundering compliance.