By:
Robert Kwaku Annor
The Bank of Ghana has
engaged key stakeholders under its Nationwide Letter of Commitment (LOC)
Sensitisation Programme to promote compliance, facilitate trade and strengthen
the country’s export proceeds management framework.
Addressing participants in
Accra, the Second Deputy Governor of the Bank of Ghana, Mrs Matilda
Asante-Asiedu, emphasised the need for a balanced and effective LOC regime that
supports legitimate trade while ensuring transparency and operational
efficiency.
“An effective LOC regime
should not hinder legitimate trade; rather, it should create a transparent,
predictable, and efficient environment that supports exporters,” she said.
The sensitisation programme
is aimed at strengthening collaboration among stakeholders, improving
operational efficiency and safeguarding Ghana’s foreign exchange resources.
The engagement forms part of
the central bank’s efforts to enhance compliance with the Letter of Commitment
framework while supporting exporters and facilitating legitimate trade.
Through the initiative, the
Bank of Ghana seeks to promote a more transparent and predictable environment
for exporters while strengthening the management of export proceeds and
protecting the country’s foreign exchange resources.
