General News of Monday, 26 November 2018
Source: Myjoyonline.com
2018-11-26
Governor of the Bank of Ghana, Dr Ernest Addison
The Governor of the Bank of Ghana, Dr Ernest Addison has said the Central Bank does not have any issue with the Communications Ministry.
There were earlier reports of a feud between the Bank of Ghana and the Communications Ministry over mobile money data.
Letters from the Communications Ministry contained requests wrapped in strong words asking the Bank of Ghana (BoG) to release the data to a private contractor, Kelni GVG, tasked to verify revenue generated by telcos.
One of the letters signed by Anastasia Marfo from the Communications Ministry said the “level of disrespect exhibited by the bank in this matter is simply appalling”.
This was after the central bank in a letter, signed by the secretary, Frances Van-Hein Sackey, insisted the request by the ministry is an invasion of privacy of mobile money subscribers.
The Communications ministry wants disclosure of customer balances, transaction amounts, date and time of the transactions.
But the letter from the Central Bank explained that handing over such data would breach the Guidelines of Electronic Money Issuers and the Data Protection Act.
The Bank in a letter insisted that even though it is willing to work with the various regulators, the current laws do not allow it to hand over such confidential data to Kelni GVG.
The secretary of the Bank of Ghana said the Communications Ministry’s authority over telcos ends when it comes to mobile money transactions.
But responding to a question during the Monetary Policy Committee Meeting in Accra, Dr Addison said, “We don’t have any issue with the Ministry of Communications, I think that we have a memorandum of understanding which is very clear; they are network service provider, we approve those who can issue electronic money.”
He added, “So all the mobile money companies have been forced to establish a subsidiary that issues electronic money and therefore on that basis, both of us have our roles and we are each staying within our lanes….”
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