Ghana’s 2010 financial directory, a one-stock-shop information data book for businesses, traders, investors, insurance entities and shareholders was launched on Friday.
The 280 page book focuses on financial administration regulation; insurance companies; insurance brokers; savings and loans companies; leasing companies; the banking amendment act and non-banking act.
Speaking to the Ghana News Agency (GNA) in Accra, after the launch, Mr Dominic Oduro-Antwi, Managing Director of Design House Projects, publishers of the Premium Financial Directory, said it served as an information centre for people searching for financial resources.
He said the directory provided detailed listings for financial companies throughout the country, list of Global Finance World’s Best Bank for 2009, which named Ghana Commercial Bank as the top in Ghana.
The Global Finance World’s Best Bank Awards objective criteria included growth in assets, profitability, geographic reach, strategic, relationships, new business development and product innovation.
Mr Oduro-Antwi said apart from the telephone numbers and location of the various financial institutions, including non-banking institutions, the directory also contains the Banking Amendment Act 2007 (Act 738), Non-Banking Act, Financial Administration Regulation, and articles as well as a step-to-step guide on how to invest.
He said: “The idea is to give to the public not only a directory with phone numbers, but one that will provide them with the knowledge of the law and environment in which the institutions are operating”.
He said understanding of the rules and regulations governing the operations of the various financial institutions was critical to enable the public to appreciate the role of those institutions in the country’s development agenda.
Reverend Randolph-Koranteng, a Banking Consultant and Head of Electronic/Multi-Channels and Transaction Banking at Uni-Bank Ghana Limited, said events after the world financial crisis demanded a vigorous rebuilding programme for the business world.
He said: “I have therefore decided to publish how to operate a bank in the 2010 financial directory to help out operators in the banking, the business community and the general public as well as political leadership on sound financial practices”.
He told the GNA that: “the financial world is changing due to the effect of the financial crisis and the movement on the Information, Communication Technology platform.
“Now ICT has greater impact on the banking world, changing the olden ways of doing business, reduce customer contact and fasten business transactions at all levels”.
The Financial Directory 2010 also provides snap shots of India’s corruption crusader, international business news, article on Ghana as a competitive business destination, statistics on the export sector development, and a review of trade and industrial activities for 2009.
Other issues in the directory include investment plans; protection of savings; simplification of financial and banking terminologies; the stock market world and savings and loan companies.