Ethics, AI, risk management to dominate banking – CIB CEO

… with resilience focus of 2024 Banking Conference

By Ebenezer Chike Adjei NJOKU

The future of banking will be shaped by critical topics such as financial literacy, ethics, risk management, artificial intelligence (AI), and climate finance, according to the Chief Executive Officer (CEO) of the Chartered Institute of Bankers, Ghana (CIB Ghana), Robert Dzato.

These areas, he emphasised, are pivotal for building a resilient and innovative banking sector capable of meeting the challenges of a rapidly evolving financial landscape.

“The future of banking lies in our ability to adapt to emerging trends like financial literacy, ethics, artificial intelligence, and climate finance. These are not just buzzwords; they are the pillars of a resilient and innovative banking industry,” Mr. Dzato explained to the B&FT.

Consequently, as part of its 2024 annual Bankers’ Week, CIB Ghana has ramped up a number of initiatives that include financial literacy programmes across secondary schools and recent thought leadership events on climate financing.

Earlier this year the Institute launched an Environmental, Social, and Governance (ESG) certification programme, partnership with the International Finance Corporation (IFC), the Environmental Protection Agency (EPA) Ghana, and the Swiss State Secretariat for Economic Affairs (SECO).

National Banking and Ethics Conference 2024

To build up on the aforementioned, CIB Ghana, will on Thursday, November 21, 2024, convene its 28th National Banking and Ethics Conference, bringing together key stakeholders in the financial sector to discuss emerging issues in the banking industry amid ongoing sector reforms and shifting global economic dynamics.

The event, which also forms part of the annual Bankers Week celebration, will focus on ‘Resilience in the Financial Services Sector and Ecosystem Navigating Horizon Risk’. Bank of Ghana (BoG) Governor, Dr. Ernest Addison will headline the event as Guest of Honor, Mr. Dzato confirmed.

“The primary objective is to foster a platform for industry stakeholders, policymakers, and academics to address critical issues facing the financial sector… in light of recent global financial uncertainties and Ghana’s economic recovery journey, this theme is more pertinent than ever,” Mr. Dzato explained.

The conference will feature Mr. Kofi Adomakoh, President of the Ghana Association of Banks (GAB) and Managing Director of GCB Bank PLC, as keynote speaker as well as Benjamin Amenumey, FCIB. President, Chartered Institute of Bankers.

“This year’s conference stands out due to its focus on resilience amidst rapid changes in the global financial landscape,” Mr. Dzato explained. “We have curated a diverse program that includes workshops on risk management strategies, keynote addresses, and interactive sessions,” he added.

Two major panel discussions will form the cornerstone of the conference programme. The first will convene representatives from the key financial regulatory bodies, including the BoG, Securities and Exchange Commission (SEC), National Insurance Commission (NIC), and National Pensions Regulatory Authority (NPRA).

This session will explore ‘Resilience in the Financial System: Navigating Policy Shifts,’ focusing on regulatory strategies to strengthen the financial ecosystem. A separate practitioners panel will feature chief risk officers and strategy leaders from various financial institutions.

These industry leaders will examine critical areas such as digital transformation, credit risk management, and sustainable banking practices, offering practical insights into opportunities and challenges in the banking sector.

The conference aligns with CIB Ghana’s broader mandate of promoting banking education and regulated practice of the banking profession. “For us, that means putting ethics high on the agenda of banks and bankers. We want to focus on ethics. We want to focus on resilience. We want to focus on trust and public trust,” the representative explained.

Recognizing the evolving nature of professional gatherings, the conference will adopt a hybrid format, with in-person sessions at the CIB Ghana Auditorium in East Legon and virtual participation. The organizers have implemented robust technical support systems, including live Q&A sessions and polls, to ensure meaningful engagement for all participants.

The conference will include sessions on digital transformation, policy innovations, and sustainability practices, all aimed at equipping participants with actionable insights to tackle horizon risks effectively.

The conference comes at a crucial time for Ghana’s financial sector, as it continues to navigate challenges while implementing reforms to strengthen institutional resilience and adapt to global financial trends. Through its comprehensive program and high-level participation, the event promises to contribute significantly to the ongoing dialogue on financial sector development in Ghana.

It precedes the institute’s annual Governance Day on December 21, where the central bank governor will provide insights on sector performance and future outlook. The night will see the graduation of the first cohort of the Chartered Banker for Executive Leadership (CBEL) programme.

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