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 strengthen their regulatory frameworks and build the capacity of their officials to respond effectively to emerging risks.
The call was made at a regional course organised by the West African Institute for Financial and Economic Management (WAIFEM) in Accra yesterday on regulating payment systems and financial market infrastructure in the digital era.
Speaking on behalf of the Governor, the Director of the Payment Systems Department at the BoG, Clarence Blay, said payment systems had become central to the delivery of financial services, facilitating transactions ranging from everyday purchases to the payment of school fees and medical bills.
He noted that the growing volume and speed of digital transactions made protecting payment infrastructure critical to maintaining public confidence in the financial system. Read More.
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