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.
- Ghanaian forward Ibrahim Sadiq gets assist as AZ Alkmaar win big in Eredivisie
- Nhyira Fm’s Mama Effe honoured at Mali’s 63rd Independence celebration in Kumasi
- #OccupyJulorbiHouse: I am here for Ghanaians, not NPP or NDC – Stonebwoy
- GPL 2023/24: Hearts of Oak beat 10-man Nsoatreman; Aduana beat Medeama
- Ghanaian youngster Raymond Anokye Asante scores in back-to-back games after injury return
- Ghanaian winger Joseph Paintsil scores first goal in Genk’s dramatic draw against Truidense
- Premier League: Darwin Nunez helps fire Liverpool to win over West Ham
- One injured in gas station fire at Katamanso
- Premier League: Watkins winner piles more misery on 10-man Chelsea
- Premier League: Arsenal and Tottenham play out thrilling derby draw
- Playback: The Law discusses how to avoid contempt of court
- D-Black’s TV show, Uncut, hits the screens in November
- Leaked tape scandal: Supt. George Asare invites 3 witnesses to testify against IGP
- Radio Ada journalist on trial over publication of fake news about McDan is dead
- Kwame Dadzie: Our celebrities should stage ‘demo’ on creative arts matters too