Chartered Institute Of Bankers, Ghana Supports The Banking Industry With 620 Chartered Bankers In The Last Three Years

Chartered Institute of Bankers Ghana continues to support the banking industry’s sustainability through human capital development. As part of delivering on its mandate to promote banking education and regulate the practice of banking in Ghana, the Institute has graduated 620 chartered bankers in the last three years.

This was disclosed by the Chief Executive of the Institute, Robert Dzato, during the 13th induction and graduation ceremony held in Accra for the newly Chartered Bankers. These Chartered Bankers have completed the Institute’s requirements of examination and practical experience as well as orientation.

The 2022 ceremony was held under the theme ‘Future of Banking in Ghana: Ethics, Professionalism, and ESG Imperatives. In his keynote address, John Kofi Adomako, the Managing Director of GCB Bank, congratulated the Institute and its newly qualified bankers.

He indicated that, to stay in the competition, the banking industry needs human capital in the areas of data analytics, AI, digital leadership, customer centricity, ESG amongst others. Commenting on the theme, he said banks should adopt Environmental, Social, and Governance (ESG) policies and to have mechanisms in place to assess the impact on their businesses. 

Mr. Adomako said: “The role of banks and bankers is increasingly going beyond the regulatory compliance and value creation for stakeholders. There is a firm conviction by banks to advance to environmental, social and governance both within their organizations and with their customers, regulators and broader stakeholders. How banks embed ESG concepts in their governance fabric and culture are things we should be thinking about.”

He also stated that the banking sector is facing a combination of disruptions and the necessity for banks to respond strategically. “Data-driven fintechs and telcos are leading the charge in deploying data-driven insights to build profitable businesses that provide solutions based on customer journeys. To respond effectively, banks will have to reinvent the ecosystems, platforms and data assets that allow them to monetize data and pursue intelligent selling and cross-selling of products and services.

On his part, The President of the Chartered Institute of Bankers (CIB) Ghana, Benjamin Amenumey applauded the newly graduated students and inductees for their tenacity, diligence, and perseverance in getting this far.  “I congratulate our inductees and graduands for this great achievement. I commend the great efforts of our Institute, facilitators, lecturers, examiners, our external teaching centres and staff of the Institute for their contribution,” he said. 

He urged the new inductees to keep learning to stay current with the latest financial industry trends. “Be alert to new trends and keep learning new skills, acquire new knowledge to solve problems and remain relevant. The day you stop learning new stuff, that is the day you start dying,” he said.

The Chief Executive of CIB Ghana, Robert Dzato, admonished the newly inducted Chartered Bankers to do more than just banking. He advised them to leverage their chartered banker status to take advantage of the related banking services as stipulated in the Institute’s Act, 2016 (Act 991). To transform the perception of bankers, he advised the freshly graduated students and inductees to strive for and thrive on ethics and professionalism. 

“You are graduating at a time when ethics is important. If you look at the Bank of Ghana report for 2021, GH¢61 million was lost due to fraud. Alarmingly, 53 per cent of the fraud involved staff of banks. So, you are going out there as the voice of conscience and the voice of professionalism. We have a responsibility to re-professionalize banking,” he added.
He also indicated that the Institute is currently reviewing its syllabus to address skills gap and equip bankers with competencies in data and analytics, Artificial Intelligence (AI), digital and ESG; but ethics will remain fundamental to the CIB Ghana qualification.