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Introduction of an Online Payment Service for the Collateral Registry System

Introduction of an Online Payment Service for the Collateral Registry System

Under the statutory Mandate of the Borrowers and Lenders Act 2008 (Act) 773, the Bank of Ghana operationalized the establishment of the Ghana Collateral Registry on 1st February 2010, to register charges and collaterals created by borrowers, to secure credit facilities provided by lenders. This was pursuant to its mandate to regulate, supervise and direct the banking and credit system, and ensure the smooth operation of the financial sector.

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