address delivered at 10th anniversary ball of fidelity bank ghana limited by dr johnson p. asiama second deputy governor, bank of ghana at at the movenick ambassador hotel on friday, april 28, 2017 mr. president of the republic of ghana, board chairman and group ceo of fidelity bank ghana limited, captains of the banking industry, management and staff of the bank, distinguished guests, ladies and gentlemen introduction 1. it is a pleasure for me to join you this evening as we mark the 10th anniversary of fidelity bank ghana limited ( fbl ). indeed, ten years is a major milestone for an institution as it is for an individual. the celebration is not so much a festivity but an opportunity to pause and assess the journey so far. it is a moment to look forward and to devise strategies to overcome particularly some of the emerging challenges facing in this technologically dynamic financial world. 2. in my address this evening, i will briefly recount the progress that fidelity bank ltd has made over the years, and then i will discuss a few regulatory issues that are under discussion. these would include some brief remarks on risk management in the banking industry, developments in the payments system landscape, and lastly the emerging risks with electronic fraud. 3. ladies and gentlemen, i have been with the central bank long enough to acknowledge the significant impression fbl has left on the ghanaian banking landscape and the niche it is charting particularly in the areas of growth, transformation, innovation and corporate social responsibility. 4. the fidelity brand has evolved and expanded overtime ; thanks to all the gallant men and women who have held the fort, including its loyal customers from inception till now. 5. on the occasion of this special 10th anniversary therefore ; permit me to add my voice in congratulating the management and staff, for your efforts in creating such a strong and unique identity for fidelity bank. progress made by fidelity bank ltd 6. since 2006 when fbl joined the banking fraternity after evolving from the former fidelity discount house, fidelity bank limited has grown both organically and inorganically in size, expanding its branch network, staff, and service. indeed, the performance of fidelity bank has been satisfactory with total assets steadily increasing at end - march 2017 to gh¢4. 10 billion, up by 4. 71 % from the corresponding period last year. the bank has grown its deposits base to gh¢2. 58 billion and has extended credit to the tune of about gh¢1. 47 billion. 7. according to our

interbank payment systems infrastructure is expected to create an integrated and interoperable digital retail payments ecosystem which will facilitate seamless funds ba es o f gh a na nk t. 1 9 5 7 transfer across payment systems to promote financial inclusion. 13. these developments in the ghanaian payments system landscape have not only increased security, affordability, convenience and efficiency in digital financial services, but have also worked to promote financial inclusion among the country ’ s financially underserved populations. 14. ladies and gentlemen, building a digital business and financial ecosystem requires a strong and resilient financial sector. it is against this background that the bank has, in recent times, instituted several policy measures including the new capital requirement regime, introduction of new corporate governance guidelines, fit and proper test directives as well as transitioning to basel ii and iii regulatory framework to foster an enduring financial sector which supports the country ’ s economic growth agenda. 15. in concluding, let me say that building a digital business and financial ecosystem requires a robust financial sector. to keep pace with innovation therefore, the bank of ghana will continue to strengthen the oversight and regulatory regime ba es o f gh a na nk t. 1 9 5 7 to support developments in the payment and settlement systems. this would ensure safety, reliability, efficiency and confidence in digital financial transactions to support the growth agenda of the government. 16. thank you.