An application for a licence to operate a credit reference bureau in Ghana shall be made in writing to the BOG and accompanied by the following:

• i. Certified true copies of the Regulations, and certificate of incorporation or other Instrument relating to the proposed business.
• ii. Documents that support the value of applicant’s capital base as well as sources of funds
• iii. A feasibility study by the applicant’s company that shows the business plan, organisational structure, and internal monitoring procedures of the company and information on the following:
  • i. Certified true copies of the Regulations, and certificate of incorporation or other Instrument relating to the proposed business.
  • ii. Documents that support the value of applicant’s capital base as well as sources of funds
  • iii. A feasibility study by the applicant’s company that shows the business plan, organisational structure, and internal monitoring procedures of the company and information on the following:
    • a. Mission statement and goals
    • b. Market analysis
    • c. Ownership structure
    • d. Governance structure
    • e. Management structure
    • f. A description of projected investments
    • g. Projected financial statements for a minimum of three years
    • h. Analysis of profitability
    • i. Business Continuity Plan
• iv. Details of applicant’s shareholder(s), directors and other officers
• v. A description of the applicant’s premises and suitability for credit reference bureau activities
• vi. Particulars of the directors and key management personnel concerned with the management of the banking business, including their educational and professional background
• vii. Information necessary for assessing the trustworthiness of applicant
• viii. An overview of operations including a description of systems, design of data collection and dissemination and management processes including:
  • The development schedule of the software required for operation
  • Characteristics of products and services to be provided to users
  • Policy on service provision
  • Proposed security and control measures to prevent improper access to information
  • Proposed security and control measures to prevent improper access to management of information
  • Operational manuals designed to ensure accuracy of information contained in the database and its update, and
  • The proposed fee and cost structure of products
• ix. In addition to the above, applicants may also collect personal questionnaire forms for Directors of the proposed credit bureau for completion and submission to the Bank of Ghana, and any
• x. Such other particulars as the Central Bank may require