The financial sector has experienced major transformations these few years. Bank of Ghana in the year 2017/2018 announced in a press release the takeover and collapse of a number of banks due to several regulatory irregularities. 

a. Discus four of such issues identified as leading to the collapse of the banks. In each case, name a bank and explain issues leading to its collapse.

b. In view of the above question (a), state and explain regulations set out to mitigate (4) of the problems/issues stated, regulations as enacted in the Banking Act 673, Non-Bank Financial Institutions Act 774 and the new Banks and Specialized Deposit-Taking Act 930.

Answer rating: 100% (QA)

a The four issues identified as leading to the collapse of the banks are 1 Lack of Proper Risk Management This refers to the failure of banks to prope... View the full answer