(1) In furtherance of this Act, the Bank of Ghana shall

(a) promote and support the development of a fair, transparent, competitive, and accessible credit market;

(b) receive complaints in writing about alleged contraventions of this Act;

(c) monitor the credit market to detect and prevent conduct prohibited by this Act;

(d) institute proceedings in case of contravention of this Act;

(e) conduct investigation to ensure compliance with this Act;

(f) issue and enforce compliance orders;

(g) promote public awareness of credit matters, through

(i) public education, the design and dissemination of information to the public; or

(ii) the provision of guidance to the credit market and industry;

(iii) adoption of other measures to develop public awareness of the provisions of this Act;

(h) advise the Minister on matters of national policy related to credit and on the determination of standards as regards protection of the rights of borrowers and lenders in terms of this Act; and

(i) Report to the Minister annually on the volume and cost of different types of credit products, market practices relating to those products, and their implications for borrower choice and competition in the credit market.

(2) In furtherance of subsection (1) the Bank may

(a) have regard to international developments in the field of credit and financing; or

           (b) Consult a person, organization or institution about a matter.