Ghana Card to be used for all financial transactions from July 1, 2022
Customers of Bank of Ghana regulated financial institutions are to update their records with their respective financial institutions with the Ghana Card, the Bank of Ghana has said in a statement on Wednesday January 19.
This comes after the central banks said banks shall only accept the Ghana Card as a form of identification starting July 1.
The statement said “In furtherance of its objective of ensuring the safety of the financial system, Bank of Ghana pursuant to Regulation 7 of the National Identity Register, 2012 (L.I. 2111), hereby directs that with effect from 1st 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: i. Banks; ii. Specialised Deposit-Taking Institutions; iii. Non-Deposit-Taking Financial Institutions;
iv. Payment Service Providers and Dedicated Electronic Money Issuers; v. Forex Bureaus and Credit Reference Bureaus.
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.”
“The Public is to note that no other form of identification will be accepted for financial transactions in Bank of Ghana after the effective date stated above,” it added.
By Laud Nartey|3news.com|Ghana