BoG launches new Digital Credit Services division to enhance financial inclusion
The Central Bank of Ghana (BoG) has created a new division focused on Digital Credit Services within its Non-Bank Financial Service (NBF) supervision framework.
This, according to the Bank, aims to enhance access to financial resources and promote financial inclusion across the nation.
In a statement issued on August 29, BoG explained that the initiative is part of a broader strategy to ensure that more individuals and businesses can tap into essential financial services.
“The Bank of Ghana hereby designates a new service – DIGITAL CREDIT SERVICES – as a Non-Bank Financial Service under the First Schedule of Act 774,” it said, noting however that this new designation does not automatically grant authorization or licensing to all existing entities currently offering similar services.
“The Bank of Ghana will in due course, issue a Directive to lay out the licensing requirements for the provision of Digital Credit Services,” the notice added.
See Notice Below:
About The Author
