The credit referencing system in Ghana has undoubtedly supported the banking sector, specifically in the credit market, since its introduction in 2008 with the provision of credit reports to facilitate the credit underwriting and administration processes of Banks and SDIs.
The Bank of Ghana which has the overall supervisory and regulatory authority in all matters relating to credit reporting under the Credit Reporting Act, 2007 (ACT 726) has over the years supported the credit referencing system through training and sensitization of financial institutions and the general public.
As part of its supervisory activities, the Bank of Ghana in 2019 continued its monitoring of credit reference bureaus and financial institutions to ensure compliance with Act 726 and other directives issued by the Bank in areas such as data provider operations, data quality and protection, dispute resolution, submission of reports, application of sanctions and other incidental matters.
Credit Bureau Activity 2019 Report by Fuaad Dodoo on Scribd
