Their main aim is to protect the consumers demand for banking,product and services as well as insurance.
During an interview with the Executive secretary,Mr.Paul Sarbeng said together with his team have noticed there’s no mouthpiece that will speak for the customers when it comes to those enjoying Banking Product and Services and also the insurance as well,no body is speaking for them and is very bad when they don’t have anything checking the regulator,because when you don’t have it the regulator can dump anything.
According to him a regulator is coming up with an insurance policy and if you look at the insurance act,act 724 in 2004 is telling as that when you want to do such a thing go by regulation but these people are coming by directive.”Regulation at times the law will apply guidelines and at times before taking a decision an individual needs to derive the power from the board of directors or some authorities.The authorities will give full power to t the main person of the organization to come out with something that will bind the organisation as which is directive”.
”When the person retires from the organisation who ever succeeds him/her comes out with their policy thinking the old policy was in the era of someone as new era demands new policy as a saying goes”new governor,new law”.
”Policy has no force of law, policy is not binding,but when you have a regulation that is law,when you go against it one can pick it to any court and seek for inner remedy that he/she want to seek”.
Once you’re a Ghanaian and you enjoy any banking product you are a member of ”cobic”.