CIB Ghana Launches Ethics 2.0 and Non-Interest Banking Certification: Strengthening Ethical Leadership in Ghana’s Banking Sector

In an era where trust defines the banking industry, CIB Ghana has introduced groundbreaking initiatives to build future-ready banks. At the 29th National Banking and Ethics Conference, the Chartered Institute of Bankers Ghana unveiled the Ethics 2.0 Programme and Non-Interest Banking and Finance Certification Programme, addressing key challenges in ethical leadership, sustainable finance, and currency stability.

Introduction

The Chartered Institute of Bankers (CIB) Ghana, the premier professional body for banking and financial services in the country, recently concluded its 29th National Banking and Ethics Conference in Accra. Held under the theme “Building Future-Ready Banks: Ethical Leadership, Sustainable Finance, and Currency Stability amid Disruption,” the event gathered regulators, policymakers, and industry leaders to discuss critical issues facing Ghana’s financial system.

This conference marked a pivotal moment with the launch of two flagship professional programmes: the Ethics 2.0 Programme and the Non-Interest Banking and Finance Certification Programme. These initiatives aim to enhance skills, ethics, and inclusivity in the banking sector, responding to regulatory mandates and evolving market demands. By focusing on ethical banking practices in Ghana, CIB Ghana is positioning the industry for long-term resilience and growth.

Analysis

The conference provided deep insights into the state of Ghana’s banking sector, highlighting the interplay between ethics, innovation, and stability. CIB Ghana’s President, Mr. Benjamin Amenumey, FCIB, emphasized the institute’s role under Act 991 (2019), which mandates promoting banking studies and practices. He described banking as a “trust profession,” where strong ethics underpin financial stability.

Key Speeches and Perspectives

Mr. Robert Dzato, CEO of CIB Ghana, described the launches as milestones in fostering character, competence, and consequence in bankers. Over 9,000 professionals completed the predecessor Ethics 1.0 Programme, developed with the Bank of Ghana (BoG). Ethics 2.0 extends this to all levels, including executives and boards.

Dr. Johnson Pandit Asiama, Governor of the BoG (represented by Mr. Ismail Adam, Director of Banking Supervision), praised CIB’s efforts but warned of rising staff-related fraud and ethical lapses threatening public confidence. The BoG plans to integrate ethics certification into fit-and-proper criteria for senior roles.

Hon. Haruna Iddrisu, Minister for Education, urged banks to avoid unethical fund flows and supported integrating financial ethics into education via partnerships with CIB and the National Council for Curriculum and Assessment (NaCCA).

Panel Discussions

Panels addressed practical challenges. The Practitioners and Professionals Panel, moderated by Ms. Abena Asare-Menako, ACIB, featured leaders like Dr. Humphrey Kwesi Ayim Darke (AGI President) and Mr. Sina Kamagate (GCB Bank), stressing values-driven leadership and digital governance for sustainable banking models.

The Regulatory Panel, moderated by Mr. Bernard Avle, explored digital asset disruptions with experts from BoG, Ghana Association of Banks, and fintech, advocating balanced regulation for cryptocurrencies while prioritizing cybersecurity and consumer protection.

Summary

CIB Ghana’s 29th National Banking and Ethics Conference successfully launched Ethics 2.0 and Non-Interest Banking Certification to bolster professional standards. These programmes align with BoG directives requiring ethics certification for all banking staff and ACIB qualification for branch managers within five years. The event reinforced commitments to ethical leadership in banking, sustainable finance in Ghana, and stability amid digital disruptions, involving key stakeholders like the BoG and Ministry of Education.

Key Points

Practical Advice

For banking professionals in Ghana seeking to advance their careers, pursuing CIB certifications offers clear pathways to compliance and leadership. Here’s how to get started:

Enrolling in Ethics 2.0

Ethics 2.0 is accessible to all levels of banking staff. Contact CIB Ghana via their official website or Accra office to register for upcoming sessions. Completion ensures alignment with BoG requirements, enhancing employability and institutional trust.

Non-Interest Banking Certification

This programme equips bankers with knowledge of profit-sharing models, avoiding interest (riba) per Sharia principles. Ideal for expanding services to Muslim communities, it supports Ghana’s push for financial inclusion. Enroll through CIB’s professional development portal; prerequisites include basic banking qualifications.

Broader Professional Development

Combine with ESG Certification for sustainable finance expertise or Digital Banking Academy for tech skills. Branch managers should prioritize ACIB within five years to meet mandates. Regularly attend CIB conferences for networking and updates on ethical banking practices in Ghana.

Points of Caution

While advancements are promising, speakers highlighted persistent risks in Ghana’s banking sector:

• Rising Fraud: Staff-related fraud is increasing, eroding public confidence, as noted by BoG’s Dr. Asiama.
• Ethical Lapses: Unethical practices, including laundering corrupt funds through banks, undermine integrity—Minister Iddrisu called for vigilance.
• Digital Disruptions: Cryptocurrencies pose threats to currency stability; inadequate cybersecurity could amplify risks.
• Compliance Deadlines: Failure to obtain ethics certification or ACIB may disqualify personnel from roles.

Bankers must prioritize ongoing training to mitigate these, fostering a culture of accountability.

Comparison

Ethics 1.0 vs. Ethics 2.0

Ethics 1.0, completed by over 9,000 professionals in partnership with BoG, focused on foundational principles. Ethics 2.0 expands scope to executives and boards, incorporating advanced scenarios like digital ethics and ESG integration, making it more comprehensive for modern challenges in ethical banking Ghana.

Traditional vs. Non-Interest Banking

Traditional banking relies on interest-based lending, while non-interest banking uses Sharia-compliant models like mudarabah (profit-sharing) and murabaha (cost-plus financing). The new certification bridges this gap, enabling Ghanaian banks to serve underserved populations, similar to Islamic finance growth in Nigeria and Kenya.

CIB Programmes vs. Global Standards

CIB’s offerings mirror international benchmarks like the Chartered Banker Institute (UK) ethics modules but are tailored to Ghana’s context, including BoG mandates and local sustainability needs.

Legal Implications

These launches carry direct legal weight in Ghana’s financial regulation framework. Act 991 (2019) establishes CIB Ghana’s mandate, making its certifications integral to professional practice. The BoG’s directive mandates ethics certification for all staff and ACIB for branch managers within five years, with non-compliance risking regulatory sanctions.

Ethics certification will factor into BoG’s fit-and-proper assessments for senior managers and boards, potentially barring unqualified individuals from approvals. Non-interest banking aligns with inclusive finance laws, but products must comply with BoG guidelines to avoid Sharia non-compliance penalties. Educational integrations via NaCCA may influence future licensing requirements.

Conclusion

CIB Ghana’s Ethics 2.0 and Non-Interest Banking Certification represent a strategic leap toward ethical leadership in banking and sustainable finance in Ghana. By addressing fraud, digital risks, and inclusion, these programmes, showcased at the 29th National Banking and Ethics Conference, fortify the sector’s resilience. As Mr. Amenumey stated, they renew commitments to trusted banks and integrity-driven leaders, paving the way for economic stability and West African influence. Professionals and institutions adopting these will lead in a disruption-prone landscape.

FAQ