Licensing Policy & Guidelines
Licensing documentation relating to banking and non-banking financial business
Overview
Since 2003, Universal Banking has replaced the three-pillar banking model – development, merchant and commercial banking. It has levelled the playing field, and opened up the system to competition, product innovation and entry. With improved macroeconomic conditions and prospects, the industry has grown into 23 banks, diversified in geographical origin, corporate character and reach in the global financial markets. The licensing policy of the Bank of Ghana will continue to pursue the underlying objectives of establishing a unique and rich banking tradition. At this stage the entry of foreign banks would be limited to truly internationally active financial institutions.
The various categories of Licensing Policies and Guidelines are listed below
- Banking Licenses (Class I)
- Banking Licenses (Class II)
- Opening Representative Offices of Foreign Banks
- Banking Licenses - Rural and Community Banks
- Savings and Loans/Finance Houses Licenses
- Non-Bank Financial Institutions
- Credit Reporting Bureau
- Personality Notes Form
- Microfinance Institutions (License Requirements)
- Microfinance Institutions (Operating Rules & Guide)
- Revised Forex Bureau Regulations
- Registry Rules under the Borrowers and Lenders Act