BoG directs banks to abolish unfair fees

The Bank of Ghana has directed all Banks and Specialised Deposit-Taking Institutions (SDIs) to cease the imposition of certain unauthorized fees and charges on customers.

In a statement “The Bank of Ghana has observed with concern, a trend where some Banks and Specialized Deposit-Taking Institutions (SDIs) impose certain fees and charges on customers. These practices are deemed to be unfair, inappropriate and detrimental to the financial inclusion agenda and the protection of customers’ interest.”

Full Statement below

BOG-Notice-No-BG-GOV-SEC-2021-12-Abolition-of-Unfair-Fees-Charges-and-Other-Practices (5)

By Richmond Mortty Bediako

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