Audio By Carbonatix
The Bank of Ghana (BoG) has warned the public not to engage the services of some 19 unlicensed entities for loans.
The Central Bank said the operations of these institutions are in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016.
The BoG in a press statement issued on Monday, August 22, revealed that they mostly employ the use of mobile applications and social media in their operations.
These entities include SikaPurse Quick Online loan, 4Cedi Instant Mobile loan application, Zidisha Online Loans, Ghana Lending Application, AdamfoPa Loan, CrestCash Loan, MobiLoan Application and Cedi Now – Cash Loans Application.
The Central Bank further stated that, “the activities of these unauthorised entities amount to non-adherence of the consumer protection requirements and an abuse of customers’ data and privacy laws”.
The Bank of Ghana, however, noted that it is taking steps to take action against these entities and thus advised the general public to report such activities.
Latest Stories
-
Former US NPP coordinator Alhaji Ali Suraj declares for National Nasara organizer
3 minutes -
Peasant Farmers Association calls for food self-sufficiency after traders killed in Burkina Faso
9 minutes -
Adorable Hearts Foundation spreads love to street children in Valentine outreach
41 minutes -
Mahama rejects removal petitions after CJ finds no prima facie case against EC, OSP leadership
43 minutes -
Hearts of Oak reports South Africa’s Siwelele FC to FIFA over ‘unauthorized’ approach of Hamza Issah
44 minutes -
From Wheat Flour to Pasta: Olam Agri’s formula for Ghana’s food security
53 minutes -
Man dies in galamsey pit collapse at Chirano
54 minutes -
‘I wanted to challenge myself again’ – Andre Ayew on decision to join NAC Breda
56 minutes -
Owusu Bempah blames Kotoko’s struggles on poor management structure
59 minutes -
Peru’s Congress ousts president after four months in office
1 hour -
Ghana targets up to 300,000 metric tonnes of dry season tomatoes in 3 years – Dumelo
1 hour -
‘Why create confusion’ – Kurt Okraku on making Black Stars budget public
1 hour -
Australia bans citizen trying to return from IS camp in Syria
1 hour -
US says ‘meaningful progress’ made as Ukraine talks enter second day
1 hour -
Police intercept truck carrying over 3,000 slabs of suspected narcotics; two arrested for bribery
1 hour