Government to begin digitisation of land registration
| Updated Nov 29, 2017 at 10:19am
Vice President Mahamudu Bawumia says government will next year (2018) focus on the digitisation of Land Registration to help develop the Mortgage Market.
He described the current situation where Ghana tops the world with regard to mortgage payments relative to income, as inappropriate.
Vice President Bawumia said banks are skeptical of giving out Mortgage Loans for fear of default due to land litigation.
He also stressed the need to deepen financial inclusion. Vice President Bawumia made these comments at the 21st National Banking Conference in Accra.
The Chartered Institute of Bankers, Ghana is one of the country's leading professional qualification and educational institution in financial services with the aim of providing stimulus for the development of competent and more qualified human resources for the Industry.
The President of CIB, Ghana Rev. Mrs Patricia Sappor stressing on the importance of recapitalization of the banking sector especially in the wake of current challenges in the sector indicated that the industry have the responsibility to ensure financial soundness and stability in the industry.
Vice President Bawumia reiterating the critical role banks play in the development of the economy noted that the banking industry should up their game by introducing innovative products to draw more people into the sector. He said government will continue to initiate policies that will stabilize the economy adding that there should be a correlation between macro and fiscal stability.
He talked about the mortgage market in Ghana.
The 21st National Banking Conference focused on Building a robust and sustainable banking system in Ghana.