Bank of Ghana Governor inaugurates Board of Central Securities Depository

Mr. Kwesi Amissah-Arthur - Bank of Ghana Governor

Central Bank Governor, Mr Kwesi B. Amissah-Arthur has inaugurated a seven-member board of the Central Securities Depository with a call on members to help deepen governance practices to serve the interest of the investment public.

In addition, members must act independently to win investors confidence to attract investment into the country.

The Central Securities Depository (CSD) is a computer-based data recording system that records the holdings of securities in electronic form to reduce risks and improve the efficiency of securities settlements.

It facilitates the clearing and settlement of secondary market transactions and undertakes the processing of interest and maturity payments of government securities.

Mr Amissah-Arthur urged members to bring their expertise to bear and drive the CSD to become an autonomous institution to enable it be weaned off Central Bank financial support.

Dr Kofi Wampah, Deputy Governor of BOG and Chairman of the Board said access to information would be a top priority of members in order to enhance confidence in the market.

He said the CSD had attracted interest from global fund managers since it came on stream about six years ago.

Dr Wampah gave the assurance that the team would endeavour to ensure that CSD was gradually weaned off Bank of Ghana’s assistance through the introduction of charges and fees for some of its services.

Source: GNA

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