Tag: Bank of Ghana
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BoG directs banks; other financial institutions to take steps to prevent spread of COVID-19
The Bank of Ghana has directed all financial institutions operating in the country to take adequate steps to help curtail the spread of the coronavirus COVID-19. Ghana has already recorded 6 cases of the disease which has killed over 6,000 people out of nearly 170,000 cases globally. All six of Ghana’s cases have been described…
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BoG extends minimum capital requirement deadline for providers of payment services to Dec. 2020
The Head of Payment Systems Department at the Bank of Ghana, Dr. Settor Amediku, has announced an extension to the deadline for payment service providers to meet the central bank’s minimum capital requirement. The central bank had initially given Mobile Money Operators a June 2020 deadline to meet the new minimum capital requirement of GH¢20…
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Payment Systems Advisory C’ttee a potential game changer – Technology Chamber CEO
The Ghana Technology Chamber, an organization that comprises various financial technology firms and other technology companies, has expressed confidence in the ability of the newly constituted 8-member Payment Systems Advisory Committee to transform the country’s payment ecosystem. The Committee, chaired by the Bank of Ghana Governor, Dr. Ernest Addison, is a creation of the Payment…
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Telcos commend BoG’s efforts in driving digitalization agenda
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Engineer Ken Ashigbey, says the Payment System Advisory Committee recently inaugurated by the Bank of Ghana will contribute significantly to the government’s digitalization agenda. Speaking on the sidelines of the Committee’s inauguration, Ing. Ashigbey touted the efforts by the central bank to provide a leadership…
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Prudential Bank attains ISO Certification for Information Security Management
As part of efforts aimed at meeting the Bank of Ghana’s requirements for security in the financial sector, Prudential Bank Ghana has acquired an ISO certification. The ISO certification is an information security management standard that provides organizations with a framework for securing and protecting confidential and sensitive data. According to Prudential Bank, it attained the ISO 27001:2013…
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Groupe Nduom requests receiver to provide update on defunct GN Savings & Loans
Dr. Papa Kwesi Nduom and Groupe Nduom Limited, the shareholders of GN Savings and Loans, which was placed into receivership last year by the Bank of Ghana, have written to the receiver requesting a meeting over the progress made so far. The shareholders of the company, who are already contesting the BoG’s decision in court…
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Bank of Ghana inaugurates 8-member Payment Systems Advisory Committee
An eight-member Payment Systems Advisory Committee to advise the Bank of Ghana on regulation and oversight of the payment systems, as well as operational and technical stands of the payment systems, has been inaugurated. The Committee, chaired by the Governor of the Bank of Ghana, Dr. Ernest Addison, is a creation of the Payment Systems…
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BoG commits to strengthen oversight of payment systems to drive financial inclusion
Governor of the Bank of Ghana, Dr. Ernest Addison, says the central bank will continue to strengthen its regulatory oversight on digital payment platforms in its bid to drive financial inclusion. Dr. Addison, speaking at the inauguration of the Payment Systems Advisory Committee, said the bank is committed to enhancing the gains made in the…
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Report on banking sector crisis must serve as training manual for bankers – FBN Bank CEO
The Chief Executive Officer of FBN Bank Ghana, Victor Asante, is urging the Bank of Ghana to develop a comprehensive report on the banking sector crisis to be used as a manual for the training of bankers in the country. Delivering a lecture on the topic: Preventing the next financial crisis – getting it right…
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No pension fund was lost during financial sector clean-up – NPRA
The National Pensions Regulatory Authority, NPRA, says it is enforcing the rules on how to invest pension funds to protect workers’ funds. Following the financial sector clean-up undertaken by the Bank of Ghana, some financial observers warned that the situation could have a spillover effect in the pensions sector if pension funds were invested in…