About Us

The Chartered Institute of Bankers (Gh) - CIB (Gh) was registered in 1978 under the Professional Bodies Decree of 1973 (NRCD 143) with 30 professional members and 11 corporate members. Having successfully carried a diligent expansion programme, the Institute can now boast of 26 corporate members, 574 professional members and over 5,000 student members.
In 1980, the Institute started to strengthen its capacity to take over the organization of the Associateship Examinations from the London Institute by conducting the Stage 1 Examinations on its own. The localization process was completed in 1993. Currently, the Institute has embarked on a Compulsory Continuous Professional Development for its members and would soon start a first degree programme with Sheffield Hallam University.

The Institute serves as a professional body for banks and financial institutions with an aim to provide stimulus for the development of competent and more qualified human resources that will enable the banks to offer efficient and competitive services to meet modern-day sophisticated demands and satisfaction. Its course content and structure is streamlined along the requirements of Alliance of African Institutes of Bankers (AAIOB) for global recognition. CIB (Gh) is also a member of World Conference of Banking Institute (WCBI).

Governance
The Institute is governed by a Council made up of members who represent the banks in Ghana and a few non-bank financial institutions. The Council works through five committees, namely:

  •  Executive Committee
  •  Publicity & Editorial Committee
  •  Education & Programmes Committee
  •  Finance Committee
  •  Ethics Committee

The Council consists of:

  • The President
  • The Vice President
  • The Immediate Past President
  • The Treasurer
  • The Chief Executive
  • Representatives of the Ghana Association of Bankers
  • Representative of the Ministry of Education

A full-time Chief Executive heads the management team which carries out the day-to-day administration of the Institute. CIB (Gh) occupies a unique position in the professional qualifications and training services sector in the country.

Banking Terms

•The risks and challenges associated with I.T. are also applicable to E-Banking.  The peculiar risks of e-banking are accentuated by the internet where customers and fraudsters can operate the systems from any part of the globe-outside the reach of the financial institution and remain largely anonymous.
•To be continued
 
•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.
•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.
•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.
•What is E-Banking:
•An automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.

PRIMARY MARKET

  • Deals in new securities and also involves conventional lending and borrowing activities (on a secured or unsecured basis)
  • Issues short-term securities bought or sold for immediate delivery
  • Exchange of funds for financial claim
  • Funds raised through Initial Purchase Orders (IPOs) and goes directly to the Company whose shares have been floated. 

 

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Where a law or court of competent jurisdiction requires disclosure for example; if a customer’s bank account is the subject of a dispute at the Court.
  2.  In Ghana, under the laws establishing the SFO (now EOCO), and the Narcotics Control Act, the Bank is obliged to disclose information about a customer’s account where warranted by these institutions.  The request must be in writing and addressed to the Bank.

 

CAPITAL MARKET

This is a market for relatively long term funding.  Active players in this domain are the Stock Exchange, the Pension Funds and the Mortgage Institutions.  The major characteristics of this market are;

  1. Long-Term Funding, usually over one year
  2. Debt and Equity are traded
  3. Focuses on Secondary Market
  4. Higher Returns
  5. Higher Risks

SECONDARY MARKET

The trading of existing securities issued by companies and government organisations in order to raise long-term funds is termed secondary market activity.

These activities are carried out on a Stock Exchange.  Trading of existing securities on the Stock Exchange therefore, constitutes secondary market activities.  

E-Banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the internet

 

 

 

•E-Banking involves services offered by Banks to their private and business customers using computerized support to record, process and transport data automatically or without vouchers.
 
 
 
 
 

 

•E-Banking involves services offered by Banks to their private and business customers using computerized support to record, process and transport data automatically or without vouchers. 

DUTIES OF A CUSTOMER

  1.  To pay reasonable interest and commission and other charges for banking services
  2. To inform the Bank of any known forgeries on the account – Greenwood Vrs. Martins Bank Ltd. (1933).
  3. To repay any overdraft on demand.

 

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Where there is a public duty to disclose, for example if the Bank is aware that the customer’s transactions are damaging to the national interest (such as trading with the enemy in time of war) or e.g. when the Bank knows of a fraud involving the customer being investigated.
  2. When the interest of the Bank requires disclosure, e.g. when filing a WRIT in court against the customer, especially for the recovery of unpaid loans or charges
•1. Cost reduction in banking services due to mass usage – cheaper and convenient
•2. Less reliance on physical branch networks for service delivery – released capital that would otherwise be tied up in brick and mortar
•3. Around the clock usage of systems – 24/7
•4. Worldwide application of some e-banking products and services
•5. Less use of cheques and paper-based instruments (environmental concerns eased).

FINANCIAL MARKETS

Financial Markets in Ghana are classified into two broad areas namely:

  1. The Capital Market
  2. The Money Market

The Money Market is essentially a market for short term funds, i.e. sale and purchase of securities with a maturity of less than one year; with the Commercial Banks, Central Bank and Discount Houses being the major players.

•1 Enormous risk challenges e.g. breach of systems, PINS and ID instruments (cloning)
•2. Requirement for effective back-up systems and controls
•3. Fraudsters evolving new schemes to outwit controls in e-banking facilities
•4. Anonymity of some applications fostering the commission of crimes around the globe e.g. internet-based payments

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Where the customer has given his express or implied consent for the disclosure for example by inviting a third party to apply to the Bank for a banker’s reference.
  2. Where the Bank of Ghana requires, disclosure for example when a particular bank customer is under investigation by the Bank of Ghana.  

 

DUTIES OF A CUSTOMER

  1. To exercise reasonable care when drawing his cheques, to help prevent alteration, fraud and forgery so that the bank will not be misled-London Joint Stock Bank Vrs. Mac-Millan and Arthur (1918).
  2. To go to his bankers when he requires payment. It is not incumbent on the Bank to seek out the customer.

 

•The risks and challenges associated with I.T. are also applicable to E-Banking.  The peculiar risks of e-banking are accentuated by the internet where customers and fraudsters can operate the systems from any part of the globe-outside the reach of the financial institution and remain largely anonymous.
 

EXCEPTIONS TO BANK’S DUTY OF SECRECY

  1. Under the Anti-Money Laundering and Terrorist Financing Law, the Bank is obliged to report even strong suspicious of unlawful activities on an account to the Financial Intelligence Centre.
  2. The Borrowers and Lenders Act also permit the Bank to disclose details of non-performing customers accounts to designated outfits prescribed by the Central Banks.

BANK’S DUTY OF SECRECY

  • The Bank’s duty of secrecy and confidentiality is central to the maintenance of confidence in the financial system.  According to the Banking Act 2004 there are a number of situations under which the Bank’s duty of secrecy is suspended.
  • The following are exceptions to the secrecy rule in Ghana.

 

E-Banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the internet

 

 

Get in touch

  • East Legon on the Trinity College Road
  • 0302 541 309 / 0302 541 308
  • 0302 541 614
  • info@cibgh.org