Business News of Tuesday, 26 November 2019Source: ghananewsagency.orgBank of Ghana to scrutinize compensation policies for bank CEOsDr Ernest AddisonThe Bank of Ghana (BOG) is to begin scrutinizing compensation policies forchief executive officers, key management personnel, and board of directors of universal banks. Dr Ernest Addison, the Governor of the BOG, who announced this, said the Central Bank would work with the universal banks to align compensation with overall bank performance by linking it to clear parameters, including the quality of a bank’s assets. He said to ensure transparency, banks would be required to publish Value Added Statements disclosing details of the compensation packages of key management personnel and board of directors separately from total employee compensation. That, Dr Addison said, was to ensure that banks did not pass on their operational inefficiencies and overhead costs to their clients. The funds will be held at the Bank of Ghana and made available to banks that participate in the Scheme.

Source: GhanaWeb November 26, 2019 01:30 UTC