The Bank of Ghana, (BoG), has set the end of June 2020 for all operators of mobile money services to acquire operating license.
According to the central bank, this new directive which has been communicated with some of the operators is to ensure that digital financial services are well regulated in the country.
Head of Payment Systems at the Bank of Ghana, Dr. Settor Kwabla Amediku disclosed this at the 23rd National banking Conference in Accra.
Speaking on the theme:, “Implications of growth and sustainability of the financial industry in the digital age,” Dr. Amediku disclosed that the central bank has notified some operators about the deadline for acquiring license under the new law.
The Payment Systems and Settlement Act was passed this year to provide a fair regulatory platform for digital money transactions in the country.
President of the Chartered Institute of Bankers, Patricia Sappor urged financial institutions to embrace the new digital revolution into the sector.
