CORPORATE GOVERNANCE
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legislation) for its appropriateness and relevance.
Enhance the EPA's capacity for supervision and enforcement.
Objective 3: Promote adoption of codes of good business ethics in achieving the
objectives of the corporation
i. Self-assessment
65. Ghana is party to several international instruments governing terrorism, as well as
UN and AU resolutions on international terrorism, including the International
Convention for the Suppression of the Financing of Terrorism and the OAU
Convention on the Prevention and Combating of Terrorism, Algiers, 1999. The
government has also committed itself to passing a bill on terrorism that includes
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provisions dealing with penalties, financing of terrorism and money laundering.
66. Although there is no existing law on money laundering in Ghana, the Bank of
Ghana has intensified its uncompromising stance on money laundering. It has
introduced a draft Anti-Money Laundering Bill that is yet to be passed by government.
The Central Bank also requires banks to apply the policy of “know your customer”. In
addition, a committee comprising the Bank of Ghana, IRS, RGD, the Committee of
Controllers of Commercial Banks, VAT Services, Criminal Investigation Department
of Ghana, and Interpol, has been formed at the national level to combat money
laundering.
67. The State Enterprises Commission, Securities and Exchange Commission, and the
Ghana Stock Exchange have gazetted corporate governance guidelines on best practices
for listed companies. These are incentives for listed companies to comply with corporate
governance practices. Good business ethics is promoted through relevant ministries,
departments, and agencies; trade and business associations; shareholders, creditors and
other stakeholders; civil society groups; and Ghana's development partners.
68. The government has performed its role in promoting codes of good ethics mainly
through policy directives, legislation and relevant guidelines. Chapter 24 of the 1992
Constitution makes provision for a “Code of conduct for public officers”. The code is
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National Laws and Measure: Counter-Terrorism Regulation of Biology: Ghana.
Http://www.interpol.int/ Public/BioTerrorism/NationalLaws.
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