Tag: Minimum capital requirements
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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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BoG gives 2020 deadline to rural banks, MFIs to meet capital requirements
The central bank has given rural and community banks and microfinance institutions up to February 2020 to meet their respective minimum capital requirements. The Bank of Ghana in 2015 announced an upward revision to the minimum capital requirements of rural/community banks to GH¢1 million to be met by December 31, 2017. Also, the central bank…