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The Impact of the Banking Act 2004 on the Performance of the Banking Industry in Ghana

The Impact of the Banking Act 2004 on the Performance of the Banking Industry in Ghana



The world of work and organization has become increasingly demanding and turbulent. There are numerous challenges currently facing by the banking sector in Ghana (Laulajainen, 2003). These are globalization, responsiveness to customers, increasing revenue and decreasing costs, building organizational capability, change and transformation, implementing technology, attracting and developing human capital, and ensuring fundamental and long-lasting change. Thus, levels of competition among organizations have increased. As in the banking industry of Ghana, the banking sector are offering different add on services to enhance their competitive advantage despite of the promulgation of Banking Act 2004.  Some banks in Ghana offer internet banking, some also offers high interest earnings, some also offer low cash loan, and etc.  With this head-to-head battle among banks in Ghana, banks are creating ways to become efficient despite of the promulgation of Banking Act 2004.  Basically the Banking Act 2004 is an act that amends and consolidates the law relating to banking, to regulate institutions which carry on banking business and to provide for other related matters. This Act cover the issues about Ghana banking regulatory systems, licensing of banks, capital and reserves, liquidity, ownership and control, restrictions on lending investment, power of supervision and control, accounts and audit, and other issues related in banking business of Ghana.



Aims and objectives of the study

While the research questions only refer to the information that the researcher intended to question. The objectives, however, will focus on the necessary problems and objectives that should be clarified in order to gather the intended information and also be able to derive specific information that are not limited by the previous questions. With these objectives, the study will be able to attain the necessary information that can help derive further conclusions and proper recommendations. The study intends to determine the impact of the Banking Act 2004 to the banking industry of Ghana. The study intends to get the appropriate data to help in making the proper assessment. There are other aims and objectives of the study. This includes


  1. To determine what Ghana’s banking sector do to meet the needs of their clients.
  2. To determine the things done by Ghana’s banking sector to give satisfaction to their clients in accordance to the promulgation of Banking Act 2004.
  3. To determine and assess the perception of banking sectors pertaining to Ghana Banking Act.
  4. To identify how successful the banking sector of Ghana is and how the Banking Act 2004 contribute to the success of the bank.



The study shall use survey using questionnaires to gather pertinent data (Creswell, 1994). The questionnaire will be made in such a way that the Ghana banking sectors will spend less time in answering it. Moreover, the study shall also use previous studies and compare it to its existing data in order to provide conclusions and competent recommendations. Survey can be done either by personal survey, telephone survey, self administered questionnaire, mailed questionnaire, and email questionnaire.


The study will initially gather information that will serve as introductory part of the study. These kind of information helps the reader what the study is about, what it intends to do and what will be its result. The study will then gather related literature to prove the need for conducting the study. The literature review can help in determining what are the studies already done, what study needs to be corrected. The study will then determine the methods and means for data to be gathered and analyzed. In this part the data is being readied to be gathered and analyzed but the method to gather it will first be determined.  The next part of the study is gathering, presenting and interpreting the data. In this part the validity of the hypothesis and ideas about the study will be proven. The last part of the study will be the part where conclusions and recommendations will be stated. In this part final statement about the study will be done.
















Creswell, JW 1994, Research design: qualitative and quantitative approaches, Sage, Thousand Oaks, California.


Laulajainen, R 2003, Financial geography: a banker's view, Routledge, New York


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