Kwamina Asomaning Calls for Mandatory Ethics Training in Banks

The President of the Ghana Association of Banks, Kwamina Asomaning, has strongly advocated for more comprehensive ethical training in the banking industry, highlighting the importance of mandatory programs to tackle fraud and unethical behavior among bank employees.

In an interview on PM Express Business Edition on Joy News, the Managing Director of Stanbic Bank Ghana spoke candidly about the damage to a bank’s reputation caused by financial misconduct.

“Trust is what we sell as banks,” he emphasized. “It’s a great embarrassment and shame when we violate the trust of our customers, employers, and shareholders by essentially betraying their confidence.”

Asomaning acknowledged that while the banking sector is based on financial integrity, the environment presents many temptations.

“There’s a saying that the love of money is the root of all evil, and we’re right in the middle of money,” he noted. “It’s easy to see how it can bring out the worst in people, and unfortunately, some of our colleagues struggle to resist the temptations when they encounter large sums.”

To combat this issue, Asomaning called for a stronger focus on ethics training, beyond the existing programs.

“As an industry, we must increase our efforts on training and raising awareness about ethics and good moral conduct,” he stressed.

He also shared that the Chartered Institute of Bankers, in partnership with the National Banking College, is offering a free ethics module to banks to ensure that every employee has a solid moral foundation.

“This should be made mandatory,” Asomaning insisted. “While all banks have ethics programs, ethics is an area where we can never have too much, given the daily pressures—whether from customers, other parties, or even family. It’s crucial to continually remind staff of the importance of maintaining high ethical standards.”