{
  "id": 13683632,
  "title": "BoG develops AI directive to promote innovation and address emerging risks in financial sector",
  "url": "https://urgent.news/2026/10/11/bog-develops-ai-directive-to-promote-innovation-and-address-emerging",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-11T08:43:50.000Z",
  "source": {
    "name": "Adom Online",
    "slug": "adom-online",
    "url": "https://www.adomonline.com/bog-develops-ai-directive-to-promote-innovation-and-address-emerging-risks-in-financial-sector/"
  },
  "original_language": "en",
  "account": "The Bank of Ghana (BoG) is crafting a directive aimed at regulating the deployment of artificial intelligence (AI) within the financial sector, with the objective of fostering innovation while simultaneously mitigating emerging risks. Dr Johnson Pandit Asiama, the Bank of Ghana's Governor, highlighted AI's potential to enhance credit evaluation, fraud detection, customer service, risk management, and operational efficiency within financial services. However, he cautioned that the same technology could introduce risks associated with data quality, model risk, cybersecurity, and consumer protection. \"Our approach will seek to encourage responsible experimentation and innovation while maintaining suitable governance throughout the AI lifecycle,\" he declared.\n\nDr Asiama unveiled this directive proposal during the 43rd Annual General Meeting of the Ghana Association of Banks in Accra on Thursday. This proposed regulation is part of the bank's overarching strategy to fortify regulatory and supervisory structures as the financial services industry undergoes digital transformation. Dr Asiama pointed out that digitalization has boosted efficiency, convenience, and financial inclusion, yet it has also generated fresh avenues through which risks can arise. Among the areas garnering heightened supervisory scrutiny are cybersecurity, digital fraud, data protection, third-party dependencies, and cloud computing.\n\nThe Governor emphasized that the bank maintains ongoing collaboration with the Ghana Association of Banks and industry stakeholders to aid the implementation of its revised Cyber and Information Security Directive. Moreover, the bank plans to conduct thematic reviews to assess the execution of the revised directive. Dr Asiama urged bank boards and senior management to consider cybersecurity and operational resilience as fundamental business risks rather than simply technological concerns. He stressed that regulatory and supervisory frameworks must continuously evolve in response to technological advancements and the increasing interconnectedness of financial risks.\n\nThe Governor encouraged banks to cultivate robust risk-management cultures and sustainable business models, ensuring that innovation contributes to the development of a resilient financial sector.",
  "summary": "The Bank of Ghana (BoG) is developing a directive to regulate the use of artificial intelligence (AI) in the financial sector, as it seeks to promote innovation while addressing emerging risks. Dr Johnson Pandit Asiama, the Governor of the Bank of Ghana, said AI had the potential to improve credit assessment, fraud detection, customer service, […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "BoG develops AI rules for financial sector",
        "url": "https://urgent.news/2026/10/11/bog-develops-ai-rules-for-financial-sector",
        "published": "2026-10-11T07:39:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}