The Payment Systems Council (PSC) of the Bank of Ghana (BoG) is expected to hold its maiden meeting today.
The meeting, to be held at the head office of the Bank of Ghana, is to plan a work programme for 2017/2018.
Inaugurated on January 10, 2017, the Council is an advisory body on payment systems with the objective of supporting the achievement of a sound and efficient payment, clearing and settlement systems.
Through collaborative decision-making and alignment with government objectives, the Council is expected to drive the National Payment Strategy Roadmap with the view to increasing access to financial services to help improve the monetary policy transmission mechanism, engender financial and social inclusion, digitization of government revenue and payments and promote economic growth.
Chaired by the Governor with the first Deputy Governor as alternate chair, the Council will also serve as a forum for cooperation to facilitate enduring conditions in regional and international payment systems.
The Council’s work includes facilitating selection of the main principles and options for systems designs; promoting standardization of procedures and systems; establishing ad hoc working groups on key payment system issues; preparing ad hoc prescriptive reports on payment system issues, which would serve as reference points for payment system reforms.