Ghana Card solely to be accepted for transactions effective July 1 – BoG
The Central Bank has said that starting July 1, 2022, the National Identification Card (Ghana Card) will be the sole card accepted by regulated financial institutions for transactions.
The directive contained in a notice to licensed and regulated financial institutions, the apex bank notes, is pursuant to Regulation 7 of the National Identity Register, 2012 (L.I. 2111).
The Central Bank in view of its notice, has urged regulated financial institutions to update their customer records with the Ghana Card.
“In line with this notice, Section 30 of the Anti-Money Laundering Act, 2020 (Act 1044) and Regulation 12 of the Anti-Money Laundering Regulations, 2011 (L.I. 1987), all financial institutions shall take steps to update customer records with the Ghana Card,” it stated.
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“Customers of Bank of Ghana regulated financial institutions are therefore advised to update their records with their respective financial institutions with the Ghana Card on line with this notice,” it added.
“The public is to note that no other form of identification will be accepted for financial transactions in all Bank of Ghana regulated financial institutions after the effective date,” the BoG stressed.
According to the BoG, licensed and regulated financial institutions to accept the Ghana Card effective July 1, 2022 include:
- Banks
- Specialised Deposit-Taking Institutions
- Non-Deposit -Taking Financial Institutions
- Payment Service Providers and Dedicated Electronic Money Issuers
- Forex Bureaus and Credit Reference Bureaus
