The Chartered Institute of Bankers Ghana is set to host its National Banking and Ethics Challenge tomorrow as part of its mission to promote ethics, literacy, and trust in financial services. Speaking ahead of the event, the CEO of the Institute, Robert Dzato, emphasized the importance of banking and ethics in the country’s economic development and financial integrity.
Promoting Human Capital and Trust in Finance
Dzato explained that the Institute is not only mandated to promote banking education but also to regulate the banking profession in Ghana. “We exist to solve Africa’s human capital needs. We are trusted professionals,” Dzato stated.
He emphasized the institute’s commitment to developing trusted professionals for Ghana’s financial sector. The organization focuses on promoting banking education while regulating professional practice standards. Their mandate centers on putting ethics, sustainability, and professionalism at the forefront of banking operations
“For us, that means developing trusted professionals for the financial services sector, putting ethics, sustainability, and professionalism on the agenda of banks and bankers,”Dzato noted.
He highlighted recent developments, including banking sector reforms and fraud reports by the Bank of Ghana, which show a continued need to build resilience and public trust. He pointed out that banking and ethics are essential to restoring confidence in the financial system.
Dzato hinted on a concerning trend during visits to secondary schools across some regions in Ghana where students viewed betting as a legitimate investment strategy. He clarified that while betting may generate income, it is not considered an investment from a banking perspective.
He said, “Our younger brothers and sisters in those schools are betting, and they see betting as an investment. Well,betting may give you a source of income, but from a banker’s perspective, betting is not an investment. And if you look at our mandate, our mandate is to promote banking education, and so the responsibility falls to us to actually bring that knowledge.”
Dzato emphasized that banking fundamentally operates on trust as its primary currency. Trust is the currency in banking. Cash is the raw material that we use. And that trust comes from character, which is ethics, doing the right thing when no one is watching,” he stressed.
Highlighting the national banking and ethics challenge
The upcoming challenge aims to put a spotlight on banking and ethics, inspiring trust and strengthening public understanding. Dzato noted that ethical literacy and national banking education are key to building resilience in Ghana’s financial system.
The national banking and ethics challenge incorporates front-end banking operations. Mr. Dzato noted that questions will address practical scenarios that everyday bank customers encounter regularly, allowing participants to learn banking fundamentals.
He also emphasized the value of the competition for parents and students. He said, “You want to really have an informed position as a parent. You may have a son or a daughter who may decide to do banking.”
Dzato believes the National Banking and Ethics Challenge is not just about competition but about deepening national understanding of financial services. He described the competition as an opportunity to not only educate the general public but also inspire confidence and strengthen the resilience in the financial system.
