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Only Ghana Card to be used for transactions from July 1 - BoG directs

BY: Zadok Kwame Gyesi
Only Ghana Card to be used for transactions from July 1 - BoG directs
Only Ghana Card to be used for transactions from July 1 - BoG directs

With effect from July 1, 2022, the Ghana Card shall be the only identification card that will be used to undertake transactions at all Bank of Ghana licensed and regulated financial institutions in Ghana.

This follows Bank of Ghana’s directive issued on Wednesday, January 19, 2022, for all Bank of Ghana regulated financial institutions to accept only the Ghana Card for any transaction.

The directive affects all financial institutions including banks; Specialised Deposit-Taking Institutions; Non-Deposit-Taking Financial Institutions; Payment Service Providers and Dedicated Electronic Money Issuers; and Forex Bureaus and Credit Reference Bureaus.

The directive further advised all customers of Bank of Ghana regulated financial institutions to update their records with their respective financial institutions with the Ghana Card.