Dr Johnson Asiama, BoG GovernorThe Bank of Ghana (BoG) has urged commercial banks to take advantage of the growing potential of remittances by developing dedicated savings and investment products for Ghanaians living abroad. Governor of the Bank of Ghana, Dr. Johnson Asiama, said a recent survey conducted by the central bank found that banks currently do not have dedicated, off-the-shelf investment products specifically designed to meet the needs of the Ghanaian diaspora. “The findings broadly indicate that banks currently do not have dedicated off-the-shelf investment products, products specifically designed to meet the needs of the Ghanaian diaspora,” Dr. Asiama said. Dr. Asiama said banks must look beyond their traditional role of facilitating remittance transfers and develop products that can attract a greater share of diaspora funds into Ghana’s financial system. “This presents an opportunity to deepen financial intermediation and mobilise diaspora funds for productive investment in the Ghanaian economy,” Dr. Asiama noted.