In a bid to enhance fair banking practices in the financial sector, the Bank of Ghana held a sensitisation program for officers of the customs division of the Ghana Revenue Authority to address pertinent banking issues of financial crimes.

Speaking to Joy Business, Director of Financial Stability Services at the Bank of Ghana Dr. Joseph France stated that having an in-depth understanding of banking and other financial related issues will go a long way to enhance consumer confidence in the financial sector.

“The investor public needs to know what goes on. Even though we have set up structures for the institutions to educate the public by way of their products, the Central Bank has taken upon itself to also do reinforcement by making the public get to know what goes on the market and what is safe for them to do”. 

Assistant Commissioner of Customs in charge of Technical Training, Alpheus Quianoo said the sensitisation programme will provide efficient and effective mechanism for handling consumer complaints related to the provision of financial services.

“As officials of the Ghana Revenue Authority we hope by the end of this programme we are likely to appreciate the documents that are presented to us for financial transactions to justify valuation and assessment of duty for commodities that are presented to us in manner that we can also validate the authenticities of those documents”.

The Bank of Ghana said in recent times it has recorded a rise in the number of complaints on the services provided by their licensed institutions.

Most complaints bothering on issues such as delays and non-payment of investment, non-disclosure of information, interest rate calculations, restructuring of loans, remittances and other forms of financial disputes, some of which are borne of fraud as customers compromise their defense.