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The Bank of Ghana (BoG) has been honored at the 7th Central Banking Awards.
BoG Governor Dr. Ernest Addison received the Central Bank of the Year award on behalf of the bank.
The organizers of the awards ceremony, Banca Central were joined by representatives of the winners of the 2020 Central Banking Awards to celebrate their achievements during a virtual awards presentation published on Tuesday, October 13, 2020.
The Annual Central Banking Awards, now in its seventh year, recognize excellence in the central banking community.
The formal presentation of the awards was made to central bank governors and line of business and market professionals, as well as Lifetime Achievement Award winner Otmar Issing by Christopher Jeffery, editor-in-chief and chair of the Committee. of Central Bank Awards.
The Central Banking Awards trophies, made from sustainable materials, were presented in a virtual ceremony this year after the March flagship Central Banking events were postponed twice.
Those events, which include the National Assets and Liabilities Management Global Virtual Supervision Summit and the FinTech & RegTech Virtual Supervision Summit, as well as modules specifically focused on areas such as communication and currency management, called Banking Week Central, will now be held by videoconference from October 26 to 29.
Many awardees will participate in the Central Banking virtual events in late October, which will include a “fireside” with the chief economist and founding director of the European Central Bank, Otmar Issing.
Below is a copy of the speech read by Governor Dr. Ernest Addison at the award ceremony.
BANK OF GHANA – CENTRAL BANK OF THE YEAR AWARD
ACCEPTANCE SPEECH BY GOVERNOR DR. ERNEST ADDISONMembers of the Central Banking Team,
Fellow award winners,
Distinguished guests,
Ladies and gentlemen.It is a great privilege for the Bank of Ghana to be named Central Bank of the Year, and I thank the Central Banking team for the honor they have given us.
This award reflects our vision to build a central bank of excellence that is highly respected by stakeholders, and further strengthens our determination to continue to implement sound policies for the monetary and financial sectors.
The successful execution of our Monetary Policy and the reforms of the financial sector and the subsequent turn of the economy, which this award duly recognizes, has been due to the hard work of the entire team of the Bank of Ghana, consisting of the Administration, the Board of Directors and the staff.
Let me mention the support I received from my very capable and efficient MPs and heads of departments. The Bank also received invaluable support from the Monetary Policy Committee and other key collaborating institutions, including the Ministry of Finance and the Economic Management Team, in the implementation of its policies and programs.
It is fair to say that three years of political reform have firmly positioned Ghana’s economy to withstand the headwinds emerging from the COVID-19 pandemic.
The restrictive stance of monetary policy helped to reduce inflation significantly and remained in the single digits and well within the Bank’s target range, with well-anchored exchange rate stability.
We also successfully concluded three years of banking sector reforms, which saw an increase in minimum capital requirements, the cleanup of the financial sector through the revocation of licenses of weak and insolvent institutions, and a renewal of the regulatory framework to stabilize and strengthen the
sector.Our banks are now well capitalized, liquid, solvent and resistant to liquidity and credit risk and well positioned to support the Ghanaian economy.
growth agenda.On this note, and with humility and deep gratitude, I accept this award on behalf of the Board, Management and Staff of the Bank of Ghana.
Thank you all for sharing the vision to ensure macroeconomic stability and establish a stable, strong and resilient banking sector to support the country’s growth and development agenda.
It is my hope that we will continue down this path and consolidate the far-reaching benefits of macroeconomic and financial stability in Ghana.
Thank you very much.
Below is a list of the award winners.
- Advisory services – Deloitte
- Payment services – Swift
- Payments and market infrastructure development – European Central Bank
- Financial Market Infrastructure Services – Bloomberg
- Currency Services – Banknote Printing in Australia
- Currency manager – Banco de México
- Data services – Swift
- Specialty Loan Initiative – BNP Paribas Securities Services
- Green Initiative – NGFS
- Global markets – HSBC
- Collateral Management Services – National Bank of Georgia / Montran
- Treasury Systems Initiative – Calypso
- Custody Initiative – Euroclear
- Risk Manager – Central Bank of Brazil
- Innovation in reservation management – BlackRock
- Asset manager – Amundi
- Reserve manager – Swiss National Bank
- Communications Initiative – Bank of Jamaica
- Transparency Award – Reserve Bank of New Zealand
- Central Banking Economics: Matteo Maggiori, Brent Neiman and Jesse Schreger
- Initiative of the Year: Bank of Thailand Stakeholder Engagement Program
- Website – Central Bank of Brazil
- Governor of the Year – Mark Carney
- Central Bank of the Year – Bank of Ghana
- Lifetime Achievement Award – Otmar Issing
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