Explanatory Notes to the Corporate Governance Disclosure Directive, 2022 🇬🇭
Ghana
Directive bog-encgd
Explanatory Notes to the Corporate Governance Disclosure Directive, 2022
- Issued by Bank of Ghana on 1 May 2022
- Commenced on 1 May 2022
- [This is the version of this document from 1 May 2022.]
INTRODUCTION
Pursuant to Sections 56 and 92(1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), the Bank of Ghana (BOG) has issued the Bank of Ghana Corporate Governance Disclosure Directive (CGDD) in May 2022 following consultations with the banking industry (herein called “the industry”) as well as stakeholder engagements with the Institute of Chartered Accountants, Ghana (ICAG), and the Ghana Association of Bankers (GAB).The purpose of the CGDD is to enhance transparency, market discipline, and the accountability of banks, savings and loans companies, finance houses, and financial holding companies, hereinafter referred to as Regulated Financial Institutions (RFIs) to their stakeholders. The disclosure framework also serves as a barometer for stakehold…Read the Full Legislation on judy.legal
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