Ghana: Use Local Insurance Companies for Import Coverage to Reduce Fx Leakages – Governor

Commercial banks must adhere to domestic regulatory provisions, including the use of local insurance companies for import coverage, to help reduce Foreign Exchange (FX) leakages and build local liquidity, the Bank of Ghana (BoG) has said.

It also urged banks to take active steps toward public listing to enhance capital strength, transparency, and long-term growth prospects.

The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, who disclosed this during a post-Monetary Policy Committee…