Significant technological advances are being made across a range of fields, including information communications technology (ICT); artificial intelligence (AI), particularly in terms of machine learning and robotics and quantum computing to name but a few. But there are mounting concerns that these technologies and how they are used will pose serious challenges, including labor force dislocations and other market disruptions, exacerbated inequalities, and new risks to public safety and national security. The technologies are mostly dual use, in that they can be used as much to serve malicious or lethal purposes as they can be harnessed to enhance social and economic development, rendering efforts to manage them much more complex. Relatively easy to access and use, most of them are inherently vulnerable to exploitation and disruption from both near and far.
The Parliament of Ghana passed a revision bill to the Bank of Ghana Act 2004 in August 2016. The 2016 Demonstration is to connect provisos the 2004 Demonstration, carry guidelines at standard with worldwide prescribed procedures, brace the independence of the national bank, present new capabilities and wipe out the impact of the Money Priest in designating board individuals. The nation likewise went into an IMF-upheld Broadened Credit Office Program in 2015 which determined zero-supporting by the national bank to government rather than the 5% funding ceil passed by Parliament.
Examination of current realities and issues
SWOT examination is a business investigation method or procedure plan device utilized to assess the qualities of an element to take advantage of chances for development, address shortcomings and relieve dangers to decide strategies that will best adjust the capabilities and assets to accomplish put forth objectives (Al-Zoubi and Honotoria, 2007; Steerages and Nixon, 2010; Ommani, 2011; Wang, 2007). Al-Fayoumi and Abuzayed (2009) and Dhingra (2013) used SWOT investigation to survey the Jordanian financial area and Indian public area banks separately. Lu and Yadong (2012) additionally utilized SWOT examination in the investigation of five country banks in Heilongjiang region in China. Saravanan and Haneef (2011) involved SWOT examination as a feature of key arranging process Non-Bank Monetary organizations in India.
Figure 1 underneath portrays a SWOT chart of the Ghanaian financial framework.
Qualities
The orderly changes and allowing of widespread licenses not just prompted a deluge of unfamiliar and exclusive banks yet additionally changed the Ghanaian financial area, extended bank offices with growing store base and expanded contest (Ackah and Asiamah, 2014; Akuffo-Duah, 2011; Bawumia and Asiamah, 2008; Opoku-Agyemang, 2015). The rising rivalry over the long run brought about arrangement of different items and administrations, inflated cost productivity, worked on corporate administration, risk the board and diminished cost of monetary administrations (Denizer et. al., 2000; Boyd and Nicolo, 2005). The changes likewise guaranteed steadiness in the financial framework and store security.
The Bank of Ghana Act 2004 enables the national bank to uphold strategies that acclimate to improvement of the financial business and monetary area without legislative impact. Taking on the Basel Accords and Global Monetary Detailing Principles helps with obstructing fundamental gamble. Daske (2006), Hail, Leuz and Wysocki (2010) and Karamanou and Nishiotis (2009) found that embracing global announcing norms prompted expanded liquidity, diminished cost of value capital, improved nature of bookkeeping data and uplifted exposure.
The area was nearly protected from an immediate effect of the 2007 worldwide monetary implosion incompletely because of negligible interconnectedness to worldwide monetary business sectors and reliance on minimal expense inner assets (Ackah, Aryeetey and Aryeetey, 2009; Cobbinah and Okpalaobieri, 0000; Terrados, Almonacid and Honotoria, 2007). OECD (2010) gave and similar to declaration that Australian and Canadian banks relied generally upon hous
