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Ghana Card shall be Mandatory for Transaction

Mixed reaction set in the general public as Mother of all Banks in Ghana, Bank of Ghana has issued a public note that with effect from 1 July 2022 only the Ghana Card shall be acceptable identification card for all banking and financial transactions in the country.

Notice to all licensed financial institutions and the public signed by Sandra Thompson (MS), the secretary of the Bank of Ghana with the Reference, Notice No.BG/GOV/SEC/01 dated 19 January 2022, indicated that “With effect from 1 July 2022, the Ghana Card shall be the only identification card that will be to undertake transactions at all Bank of Ghana licensed and regulated financial institutions including, Banks, Specialised Deposit-Taking Institutions, Non-Deposit-Taking Financial Institutions, Payment Service Providers and Dedicated Electronic Money Issuers, Forex Bureaus and Credit Reference Bureaus“.

The letter further urged all customers of various financial institutions including mobile money users to update their records with their respective institutions with the Ghana Card since, after the given date mentioned above, no other form of identification card will be accepted for financial transactions.  The letter has caused mixed reactions among the populace of the country. A short interview conducted to ascertain the thought of the public about the new policy of the Bank of Ghana on the above show that while some people are in support of the decision of the Bank of Ghana, others are of the view that the effective date for the implementation is too short. Others also complained that they are yet to receive their Ghana Card from the National Identification Authority.

Meanwhile, telecommunication providers and some notable banks in the country have already initiated the process of updating the records of their customers with the Ghana Card.   

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