BoG pushes tighter digital payment controls
THE Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has urged central banks in West Africa to strengthen the regulation and supervision of digital payment systems to safeguard financial stability and protect users against cyber threats. He said the rapid growth of digital financial services and virtual assets required central banks to … The post BoG pushes tighter digital payment…
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has called for enhanced regulation and oversight of digital payment systems across West Africa. Dr Asiama highlighted the need to fortify financial stability and safeguard users from cyber risks as digital financial services and virtual assets rapidly expand. This plea was made during a regional seminar on payment system regulation and market infrastructure in the digital age, organized by the West African Institute for Financial and Economic Management (WAIFEM) in Accra.
Clarence Blay, Director of the Payment Systems Department at the BoG, speaking on behalf of Dr Asiama, emphasized the integral role of payment systems in financial services provision, from daily purchases to educational and healthcare payments. He underscored the critical importance of protecting these infrastructures to uphold public trust in the financial system amidst the surge in digital transactions.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
