ALL POSTS FILED UNDER: BOG
BoG pegs minimum capital for Mobile Money companies at GH¢20m
Add a CommentThe Bank of Ghana has pegged the minimum capital required for operating a mobile money company at GH¢20 million. The latest directive comes on the back of the recently passed Payment Systems and Services Act, 2019 (Act 987) which provides … Read more →
Banks lose GHc19.1m to theft committed by own employees – BoG report
Add a CommentA Bank of Ghana report on banking fraud in the country has revealed that there is a growing number of employees of banks either stealing from customers or from their employers. The report prepared by the Financial Stability Department of … Read more →
BoG directs Rural Banks to meet minimum capital
Add a CommentThe Bank of Ghana has directed all Rural and Community Banks (RCBs) to meet their Minimum Capital requirement by February 2020. The directive was contained in a notice issued by the Central Bank to RCBs, Microfinance Institutions and the general … Read more →
Gov’t does not owe GN Savings and Loans – BoG
Add a CommentThe Bank of Ghana has rejected viral claims, GN Savings and Loans company collapsed because government failed to pay debts it owed the company. Deputy Director of Banking Supervision at the Bank of Ghana, Elliot Amoako said it is other … Read more →
BoG outlaws deposit mobilisation fees, threatens to sanction erring banks
Add a CommentThe Bank of Ghana (BoG) has directed banks and other specialised deposit-taking institutions (SDIs) to stop paying fees and commissions to agents in return for the mobilisation of wholesale deposits from the general public. It said the practice had the … Read more →
BoG rejects EIU projection Ghana cedi will hit ¢6 to the dollar
Add a CommentGovernor of the Bank of Ghana has downplayed projections from London based Economists Intelligence Unit (EIU) that the Ghana cedi could witness another round of serious depreciation in the coming months. Dr. Ernest Addison said, “I don’t think that these … Read more →
BoG to get tough on currency import, export violators
Add a CommentThe Bank of Ghana (BoG) has warned of severe consequences for persons who flout its rules concerning the importation and exportation of foreign currencies. In an announcement to the public, the central bank stated that it has powers under the … Read more →
BoG keeps policy rate at 17%
Add a CommentThe Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the Policy Rate at 17 per cent for the fourth consecutive time in 2018.The Governor of the BoG and Chairman of the MPC, Dr. Ernest Addison, told … Read more →
BoG collapses 5 banks into Consolidated Bank Ghana Ltd
Add a CommentThe Bank of Ghana has merged five banks into a Consolidated Bank of Ghana Limited. The banks are BEIGE, Sovereign, Construction, UniBank and Royal Bank. It follows the insolvency of the four banks after investigations by Bank of Ghana. The … Read more →
BoG Capital Requirement: 3 More Banks To Go
Add a CommentAt least three local banks are likely to cease to be in operations today as the Bank of Ghana readies to announce banks that have been unable to meet its new minimum capital requirement of GHC400 million. According to sources, … Read more →
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