Bank of Ghana develops AI rules for financial sector

Dr Johnson Pandit Asiama, the Governor of the Bank of Ghana, said AI had the potential to improve credit assessment, fraud detection, customer service, risk management and operational efficiency in financial services.

The Bank of Ghana (BoG) is developing a directive to regulate the use of artificial intelligence (AI) in the financial sector, as it seeks to promote innovation while addressing emerging risks.

The proposed directive forms part of the Bank’s broader efforts to strengthen regulatory and supervisory frameworks as digitalisation transforms financial services.