Bank of Ghana (BoG) has been awarded for its contribution to the devel-opment of the Financial Technol-ogy Industry.

The bank last Wednesday won the "Best FinTech Policy of the Year" award, under the Innovation and Excellence Awards category at the Connected Banking West Afri-ca Summit, 2022, organised by the International Centre for Strategic Alliances (ICSA).

According to ICSA, the award was in recognition of the various policies of the bank that had fostered digital financial services, accelerated financial inclusion and positioned Ghana as a preferred destination for FinTech business in the West African sub-region.

The Connected Banking Summit is an annual FinTech industry flagship programme of the African continent organised by the ICSA.

The summit brought together captains of the financial service industry, fintechs, policy makers, regulators and technology service providers to dialogue and ex-change ideas on emerging trends in fintech and deploy technology to engender inclusive and safe financial services in Africa.

The Fintech Industry experts argue that Ghana's FinTech ecosystem was poised to grow at an accelerated pace following the establishment of the Regulatory Sandbox to serve as a regulatory forbearing environment to nur-ture innovative financial prod-ucts and business models.

Commenting on the award, the Governor of the BoG, Dr Ernest Addison, said the bank was excited about the award.

He pledged that the BoG would continue to initiate inno-vative policies to promote the growth of the fintech industry.

Dr Addison said the indus-try held good prospects to the development of the country and promoting financial inclusion.