Who built the Bank of Ghana?
On the 4th March 1957, just two days before the declaration of political independence, the Bank of Ghana was formally established by the Bank of Ghana Ordinance (No. 34) of 1957, passed by the British Parliament. Frantic preparations then began to put in place an organisational structure for the new central bank.
What is the structure of the banking system in Ghana?
Ghana’s formal banking sector comprises the central bank (the Bank of Ghana) and a number of other banks, including commercial banks, development banks, merchant banks and a plethora of rural unit banks. As the Central Bank, the Bank of Ghana has the responsibility for implementation of monetary policies.
Who is the board chairman of Bank of Ghana?
Dr. Ernest Addison
Board of Directors
| NAME | DESIGNATION | |
|---|---|---|
| 1. | Dr. Ernest Addison | Governor (Chairman) |
| 2. | Dr. Maxwell Opoku-Afari | 1st Deputy Governor |
| 3. | Mrs. Elsie Addo Awadzi | 2nd Deputy Governor |
| 4. | Dr. Samuel Nii-Noi Ashong | External Director |
How many branches does Bank of Ghana have?
As of June 2020, Ghana Commercial Bank (GCB) had 185 branches across Ghana, leading in the count among financial institutions the country. This was followed by Consolidated Bank Ghana Limited and Agricultural Development Bank (ADB) Limited with 106 and 83 branches, respectively.
When was the bank of Ghana first established?
The Bank of Ghana, established in 1953 by the Bank of England, became the main banking institution in the country and oversaw issues of currency, business and personal banking. Further development and economic policies allowed the bank of Ghana to open branches across the nation.
Where is the bank of Ghana in Accra?
A new and modern five-storey building had been put up on the High Street, adjacent to the Accra Metropolitan Assembly (AMA) to house both the Bank of Ghana and the Ghana Commercial Bank (GCB).
What kind of banking system does Ghana have?
Today, the banking system in Ghana has seen a wide range of policies implemented to keep up with the western world. 1989 saw the inception of the Ghana Stock Exchange, and Ghana has worked with the IMF (International Monetary Fund) to develop new, progressive policies.
When did Ghana start to use decimal currency?
The second issue of currency was in early 1965, when Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. Accordingly, Cedi notes and Pesewa coins were introduced on the 19th July, 1965 to replace the Ghana pounds, shillings and pence.