Audio By Carbonatix
The central bank has directed all financial institutions to only accept Ghana Cards for all transactions.
The Bank of Ghana (BoG) explained that this order takes effect from July 1, 2022.
This is pursuant to Regulation 7 of the National Identity Register, 2012 (L.I. 2111).
"...with effect from July 1, 2022, the Ghana Card shall be the only identification card that will be to undertake transactions at all Bank of Ghana licensed and regulated financial institutions...," a January 19 statement read.
Specific institutions to be affected include banks, Specialised Deposit-Taking Institutions, Non-Deposit-Taking Financial, Institutions, Payment Service Providers and Dedicated Electronic Money Issuers, Forex Bureaus and Credit Reference Bureaus.
The BoG further entreated all institutions concerned to ensure that their database is updated with their customers' Ghana card details.
The statement also said BoG is working to integrate the NIA's verification transaction platform into its monitoring systems for 'Know Your Customer' purposes.
"This is to ensure that all financial transactions performed within the ecosystem are linked to one identity and information, and unique codes for the transactions shared with the Bank of Ghana (BoG) to facilitate the identification of initiators/beneficiaries for track and trace purposes," portions of the release signed by BoG Secretary, Sandra Thompson read.
"This is to ensure that all financial transactions performed within the ecosystem are linked to one identity and information, and unique codes for the transactions shared with the Bank of Ghana (BoG) to facilitate the identification
of initiators/beneficiaries for track and trace purposes."
The BoG added that these "will include but not limited to transactions by: i. Banks; ii. Non-bank Financial Institutions; and iii. Mobile Money Operators (MMOs)."
Latest Stories
-
President Mahama, Lordina support retired Assemblies of God pastors, widows with medical care and Christmas gifts
26 minutes -
2025/26 GPL: Nations FC fight back to claim 2-1 win over Heart of Lions
29 minutes -
Tanzania responds to international criticism over October post-election events
39 minutes -
Burkina Faso plans to restore death penalty for treason, terrorism, espionage
44 minutes -
One killed, 27 arrested in Tamale police operation
44 minutes -
GTDC calls for synergy as its marketplace gains global traction
54 minutes -
ADB lauds gov’t’s agricultural initiatives, commits to providing needed support
1 hour -
US Embassy hosts World Cup draw watch party, fans upbeat about Ghana’s chances
1 hour -
If Sammy Darko were in Police Service, he wouldn’t even be a Superintendent – Martin Kpebu
1 hour -
Minister rejects claims of political bias as NDC Regional chair is named North East Best Farmer
1 hour -
Notorious Ashaiman robber arrested in joint police operation
2 hours -
OSP says probe into SML predates Manasseh Azure Awini’s petition
2 hours -
OSP is acting lawlessly; it had zero jurisdiction to arrest Martin Kpebu – Kofi Bentil
2 hours -
The evolution of smokeless alternatives to smoking
2 hours -
Mahama commissions National Signals Bureau Regional Command in Ho
2 hours
