Domestic terrorism is noted for its lack of foreign involvement

Notwithstanding the strides chalked by the Ghanaian banking sector, banking penetration still leaves much to be desired. Bawumia (2010) publicised the unbanked population as 70% and Wampah (2014) disclosed the unbanked population ratio as exceeding 80% with banking operations largely urbanised. Strategising to rope in more of the unbanked populace is also challenged by the low financial literacy rate. The rather low permeation of banks to the rural areas implies a significant unexploited segment to mobilise deposits and augment the profitability of the system. Ackah and Asiamah (2014) documented that the high cost of credit, high lending rate and low credit availability to the private sector have bedevilled the sector. Lending rate averaged 28.51% from 2005 to 2016 having attained the highest of 42.84% in August 2016 and lowest of 21.24% in March 2008. High interest rate spreads averaged 23.01% between 2009 and 2014 as compared to a sub-Saharan average of 8.57% in 2012 (Adoah, 2015; Garr & Kyereboah, 2013; Mansah & Abor, 2013; tradingeconomics.com). Ghanaian banks are challenged with balancing risk management and growth. Lack of structures to ascertain veracity of identification and credit history of borrowers exposes the industry to fraud. The policy to gather detailed customer information upon opening of accounts has not sufficed in forestalling banking fraud. Boateng, Boateng and Acquah (2014) asserted annual loss to bank fraud run into millions of Ghana cedis.

Opportunities

The establishment of foreign-owned banks into Ghanaian banking with the prerequisite to bring into Ghana 60% of initial capital in foreign convertible currency creates the platform for injection of foreign capital to stimulate economic development (Tetteh, 2014). Foreign-owned banks form approximately 52% of the total number of banks as at September 2016. Incorporating technology in service delivery removes tailbacks of accessing banking services and offers a plethora of media such as internet and mobile banking, real-time settlement and ATMs for banks to innovate products and services and expand customer-base (Domeher, Frimpong & Appiah, 2014). Kumar (2011) recommended that businesses with a goal to revamp customer confid

Sample Solution

Domestic terrorism is on the rise. Several attacks have been widely reported in the last few years. For example, in May 2022, a racially-motivated individual shot and killed 10 people in Buffalo, New York. A 2018 attack on a Pittsburgh synagogue left 11 people dead.  Domestic terrorism involves violence against the civilian population or infrastructure of a nation—often but not always by citizens of that nation and often with the intent to intimidate, coerce, or influence national policy. According to DHS, there were 231 domestic terrorism incidents between 2010 and 2021. Of these, about 35% (the largest category) were classified as racially- or ethnically-motivated. These attacks were also the most lethal. For example, in July 2016, a racially-motivated individual killed five police officers in Dallas. Anti-government or anti-authority motivated violent extremism was the second largest category of incidents, and resulted in 15 deaths over the same time period. There were also domestic terrorism incidents linked to animal rights extremists and abortion-related violent extremists, among other motivations.