The Vice-President, Dr Mahamudu Bawumia, has hailed the decision by the Bank of Ghana to implement a Gold Purchase Programme designed to purchase locally-produced gold, describing it as a master stroke in the quest for stronger macroeconomic management and in providing a bulwark for the Cedi. Addressing participants at the Ghana Gold Expo 2021 (Ghana Mining Week ’21), a mining...
Chief Executive of the Ghana Interbank Payment and Settlement System, Archie Hesse, says the GhQR code payment service has been designed to replace the relatively more expensive payment systems found in shopping centres across the country. The GhQR code system of payment is a contactless mode of payment involving the scanning of a QR code and an endorsement on any...
The Minister of Finance, Ken Ofori-Atta says the fundamental objectives of special-purpose banks such as the NIB and ADB would have to be reviewed to help them secure the necessary capital so they can give out long-term funds as the government makes moves to establish a development bank. The Government of Ghana, in partnership with the European Investment Bank, and...
The Bank of Ghana has revised its directive for the “Treatment of Captured Payment Cards in Automated Teller Machines”. The BoG in a statement said, this would seek to address the perennial complaints that emanate from the capture of Payment Cards at ATMs of regulated financial institutions. It said it would also provide for standard procedures in retrieving payment cards captured...
The Police Administration has reviewed threats to withdraw police escorts on bullion vans used for carting money by banks if the financial institutions fail to provide fortified armoured vehicles for that purpose. Under a new arrangement, banks will use a pool of fortified armoured bullion vans provided by the Bank of Ghana. The police, on the other hand, according to the...
