The Ghana Association of Bankers, has agreed to comply with the IGP’s directive for improved security in relation to Cash in Transit (CIT) operations in the country.

This comes following interactions with the top hierarchy of National Security,  the Inspector General of Police, the management of the Bank of Ghana (BoG), and third-party private security providers of banks.

“As a response, we have committed to comply with the “latest industry standards in compliance, and certification requirements of Cash in Transit (CIT) operations; strengthen dialogue with the providers of CIT service to develop a comprehensive infrastructure, and implement an aggressively proactive approach to staying at the forefront of the continually evolving security threats that the banking sector is exposed to,” the Association said in a statement.

The IGP has threatened to withdraw escort services to sub-standard bullion vans if the banks do not upgrade the level of security by the end of June.

However, the association did not state clearly whether the June deadline given by the Police would be met.

“We take this opportunity to assure the banking community and the general public that we have been working on enhanced CIT modalities with the Police Service, BoG and our third party service providers and remain fully committed to strict compliance with established standards”, the release added.

Meanwhile, the association has extended its condolence to the bereaved families, the police administration, and others affected by the tragedy.

“The Ghana Association of Bankers is extremely saddened to learn about the events of Monday June 14, 2021, which led to the tragic loss of General Constable Emmanuel Osei of the National SWAT Unit, Police Headquarters Accra. The death of an officer on official duty is always a great tragedy and we offer our heart felt condolences to the family, the Inspector- General of Police and the entire Police Service”, the statement read in parts.