The Bank of Ghana (BoG) which is the highest bank authorized to direct banking transactions in Ghana has directed all of its customers and partner banks to use the Ghana Card as the sole means of identification in performing banking and financial transactions.
The use of the Ghana Card issued by the National Identification Authority (NIA) has been a bone of contention in the country especially after NCA directs for its use in the re-registration and registration of SIM Cards.
In a press statement issued by the Bank of Ghana under the signature of Miss Sandra Thompson, Secretary to the Bank of Ghana, all banks are to from effective July 1, 2022, begin to use Ghana Card as the only means of identifying their customers.
The Public is also to take note that no other form of identification will be accepted for financial transactions in the Bank of Ghana after the effective date stated above.
The statement reads:
In furtherance of our 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 used to undertake transactions at all Bank of Ghana licensed and regulated financial institutions including:
- Specialized Deposit-Taking Institutions;
- Non-Deposit-Taking Financial Institutions;
- Payment Service Providers and Dedicated Electronic Money Issuers;
- 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.”
Customers of Bank of Ghana regulated financial institutions are therefore advised to update their records with their respective financial institutions with
the Ghana Card in line with this Notice.”
For KYC purposes, the National Identification Authority verification transaction platform will be integrated into the Bank of Ghana’s financial monitoring
platform. This is to ensure that all financial transactions performed within the ecosystem are linked to one identity and information, and unique codes for the transactions are shared with the Bank of Ghana (BoG) to facilitate the identification of initiators/beneficiaries for track and trace purposes.
This will include but is not limited to transactions by:
- Non-bank Financial Institutions; and
- Mobile Money Operators (MMOs).
— Kennedy Hatekah🇬🇭 (@Xorlali_1) January 19, 2022