CIB talks tough on banking ethics and conduct

Reverend Mrs. Patricia Sappor, President of the institute

…promises stern disciplinary action against flouting members

The Chartered Institute of Bankers (CIB) Ghana is committed to strict enforcement, without fear or favour, of the stipulations laid out in the newly-released Ghana banking code of ethics and business conduct, President of the Institute, Patricia Sappor, has said.

This, according to her, is to ensure trust is restored in the industry by persons to whom banks and their agents owe fiduciary duties, particularly customers – adding that the banking profession rises and falls on the integrity it possesses, real and perceived.

Speaking during a media interaction to discuss dynamics of the Code of ethics, Mrs. Sappor warned that as custodians of the Code, her outfit will ensure that punitive measures are duly enforced irrespective of the parties involved. “The Code points to integrity, professionalism and honesty; these cut across the industry and banking thrives on them… we are keen on ensuring this in our banks, and we will not spare any expense to ensure that sanity exists in the industry,” she said.

While some punitive measures might extend beyond the remit of the Institute, Mrs. Sappor stated that CIB will not hesitate in blacklisting members, depending on the gravity of the misconduct – adding that CIB will extend its collaboration with bodies such as the Economic and Organised Crime Office (EOCO) to ensure enforcement.

She however gave assurance that despite the Institute’s desire to enforce sanctions, it will not be administered with an unusually heavy hand.


To ensure that the Code and all that pertains to it is known by all individuals working in banks and not just chartered bankers, the CIB president revealed that the Institute, in collaboration with industry watchdog Bank of Ghana (BoG) as well as the Ghana Association of Bankers (GAB), will be embarking on a series of sensitisation campaigns.

“We are going to have a complete roll-out and education on the Ghana Banking Code of Ethics. We are engaging all the banks, and we will have interactions with them and their HR heads to ensure that everyone is aware of the Code’s content; and together we are going to ensure compliance,” she said.

She suggested that the Code will be reviewed periodically to ensure it meets new developments relevant to the industry.


At the 2020 Annual Bankers’ Dinner (Governor’s Day) organised by the Chartered Institute of Bankers-Ghana (the Institute) on Saturday, November 28, 2020, the president of the Institute, Patricia Sappor, FCIB, together with Governor of the Bank of Ghana, Dr. Ernest Addison, FCIB, and his Deputies and the CEO of the Ghana Association of Bankers, Mr. John Awuah, launched the Ghana Banking Code of Ethics and Business Conduct.

The Code serves as a guide to all members and practitioners in meeting their obligations to customers and other relevant stakeholders.

This is in line with Section 3(d) of the Chartered Institute of Bankers Ghana, Act 2019 (Act 991), which mandates the Institute to set standards and ensure the observance of ethical standards and professional conduct among members of the banking profession in the country.

The Code applies to all practitioners and professionals in the banking industry of Ghana, as well as members of the Institute per Section 14 of (Act 991).

The Code is to be read along with all relevant Bank of Ghana Directives, Notices and Circulars; Ghana Association of Bankers (GAB) Code of Business Conduct; and where applicable, the Code of Conduct of Banks and Financial Institutions regulated under Banks and Specialised Deposit Taking Institutions Act, 2016 (Act 930) and Non-Bank Financial Institutions Act, 2008 (Act 774).

The Code exhaustively covers Professional Code of Conduct for members, financial institutions and their customers, inter-bank relationships, financial institutions obligations to the Bank of Ghana and other relevant regulators.

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