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The Bank of Ghana has announced that effective July 1, 2022, all financial transactions are to be done with only the National Identity Card also known as the Ghana Card.
The central bank said in a statement copied to GhanaWeb said the move is to ensure that transactions have one identity and are traced and tracked.
The public is, however, to note that, that no other form of identification will be accepted for financial transactions in all Bank of Ghana regulated financial institutions after the effective date.
The BoG in a statement said, “in furtherance of its objective of ensuring the safety of the financial system, Bank of Ghana pursuant to Regulation 7 of the National Identity Register, 2012 (L.I.2111), hereby directs that with effect from 1st July 2022, the Ghana Card shall be the only identification card that will be used to undertake transactions at all Bank of Ghana licensed and regulated financial institutions”.
These financial institutions include banks, specialized deposit-taking institutions, non-deposit-taking financial institutions, payment Service providers and dedicated electronic money issuers, forex Bureaus and Credit Reference Bureaus.
The statement which was signed by the Secretary of the Bank of Ghana, Sandra Thompson, also noted that all financial institutions should take the necessary steps to update customer records with the Ghana card.
In the same vein, customers of Bank of Ghana regulated financial institutions are also being advised to update their records with their respective financial institutions with the Ghana Card in line with this notice.
“National Identification Authority verification transaction platform will be integrated into the Bank of Ghana’s financial monitoring platform to ensure that all financial transactions performed within the ecosystem is linked to one identity and information, and unique codes for the transactions shared with the Bank of Ghana (BoG) to facilitate the identification of initiators/beneficiaries for track and trace purposes”, the BoG said.
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