{"id":757683,"date":"2022-01-19T21:01:34","date_gmt":"2022-01-19T21:01:34","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/01\/19\/ghana-card-to-be-used-for-all-financial-transactions-from-july-1-2022\/"},"modified":"2022-01-19T21:01:34","modified_gmt":"2022-01-19T21:01:34","slug":"ghana-card-to-be-used-for-all-financial-transactions-from-july-1-2022","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/01\/19\/ghana-card-to-be-used-for-all-financial-transactions-from-july-1-2022\/","title":{"rendered":"Ghana\u00a0Card\u00a0to be used\u00a0for all financial transactions\u00a0from July 1, 2022"},"content":{"rendered":"<p><\/p>\n<div style=\"font-size: 17px;\">\n                                                   Accra, Jan. 19, GNA \u2013 The Bank of Ghana says from July 1, 2022, the Ghana Card will be used for all financial transactions at\u00a0all Bank of Ghana licensed and regulated financial institutions.<\/p>\n<div class=\"kMultiLine\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/01\/1.21323282.jpg\" width=\"100%\" height=\"\" alt=\"\" title=\"\" class=\"kMediaObject\"\/><\/div>\n<div class=\"kMultiLine\">\n\u00a0 <br \/>\nThese include banks, Specialised Deposit-Taking Institutions, Non-Deposit-Taking Financial Institutions, Payment Service Providers and Dedicated Electronic Money Issuers, Forex Bureau and Credit Reference Bureaus. <br \/>\n\u00a0 <br \/>\nThe BoG said\u00a0no other form of identification will be accepted for financial transactions in all Bank of Ghana regulated financial institutions after the effective date stated above. <br \/>\n\u00a0 <br \/>\nA Statement by the BoG said: \u201cIn 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 used to undertake transactions at all Bank of Ghana licensed and regulated financial institutions.\u201d <br \/>\n\u00a0\u00a0 <br \/>\nTherefore, it tasked\u00a0all financial institutions to take steps to update customer records with the Ghana Card\u00a0in line with the 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). <br \/>\n\u00a0 <br \/>\n\u201cCustomers 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,\u201d it said. <br \/>\n\u00a0 <br \/>\nFor KYC\u00a0(Know Your Customer)\u00a0purposes,\u00a0the BoG said,\u00a0the National Identification Authority verification transaction platform would\u00a0be integrated into the Bank of Ghana\u2019s financial monitoring platform. <br \/>\n\u00a0 <br \/>\nThat, it noted was\u00a0to ensure that all financial transactions performed within the ecosystem\u00a0were\u00a0linked to one identity and information and unique codes for transactions shared with the Bank of Ghana (BoG) to facilitate the identification of initiators\/beneficiaries for track and trace purposes. <br \/>\n\u00a0 <br \/>\n\u201cThis will include but not limited to transactions by: Banks,\u00a0Non-bank Financial Institutions; and Mobile Money Operators (MMOs),\u201d it said. <br \/>\n\u00a0 <br \/>\nGNA<\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Accra, Jan. 19, GNA \u2013 The Bank of Ghana says from July 1, 2022, the Ghana Card will be used for all financial transactions at\u00a0all Bank of Ghana licensed and regulated financial institutions. \u00a0 These include banks, Specialised Deposit-Taking Institutions, Non-Deposit-Taking Financial Institutions, Payment Service Providers and Dedicated Electronic Money Issuers, Forex Bureau and Credit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":757684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1325,2399,2386,2400,2401],"class_list":["post-757683","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-financial","tag-ghanacardto","tag-july","tag-transactionsfrom","tag-usedfor"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/757683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=757683"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/757683\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=757683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=757683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=757683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}