- Ghanaians are set to provide “full personal details” before they can make any transaction in any financial institution
- According to the BoG, customers of the various banks must provide verifiable identification cards and a telephone number
- The BoG notice was signed by the Secretary of BoG, Frances Van-Hein Sackey
The Bank of Ghana (BoG) has outlined three key items that one would need in order to be able to deposit or withdraw money from any bank.
One is now required to provide their “full personal details” in order to be able to transact at banks and other specialised deposit-taking institutions.
The Central Bank has directed that persons looking to deposit money into and/or withdraw same from accounts that are not theirs must provide their names and addresses.
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Also, they are to provide “a verifiable identification card and a telephone number to the requisite bank or specialized deposit-taking institution.”
The BoG’s new directive was contained in a notice published in the Wednesday, September 4, 2019 edition of the Daily Graphic.
The directive is in compliance with the amended section 23 of the Anti-Money Laundering Act, 2008 (Act 749).
“In accordance with section 23(7) of the Anti-Money Laundering Act 2008, (Act 749) as amended, all banks and specialised deposit-taking institutions shall require the full personal details of a person who makes a deposit into or withdrawal from an account on behalf of another person,” the notice, signed by BoG Secretary, Frances Van-Hein Sackey, said.
“Banks and specialised deposit-taking institutions and the general public are to take note and be guided accordingly.”
The Central Bank has been on a mission to clean up the banking sector, which has affected many financial institutions.
So far, seven local banks, 23 savings and loans and 419 microfinance companies have been shut down in the last two and half years over insolvency issues.
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