Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930)
Section 9: The Bank of Ghana shall not issue a licence to an applicant unless
the Bank of Ghana is satisfied that
(a) the feasibility report submitted by the applicant under section 7 is based on sound analysis under reasonable assumptions;
(b) the proposed directors and key management personnel of the applicant are fit and proper persons;
(c) the significant shareholders are suitable and the ownership structure of the proposed bank or specialised deposit- taking institution will not hinder effective supervision, including supervision on a consolidated basis;
(d) the paid-up capital of the applicant is adequate and the original sources of capital are acceptable and do not include borrowed funds;
(e) the arrangements for governance, including accounting, risk management, and internal control systems and records of the applicant are adequate;
(f) the applicant is not a shell company; and
(g) the applicant has complied with this Act, the Regulations, directives, and other legally-binding instruments made under this Act and any conditions that the Bank of Ghana may impose.
Procedure to Follow
Not Avaiable
Responsible Institution
Accra Central
- Email: info@bog.gov.gh
- Website: www.bog.gov.gh
- GPS: GA-065-3452
- Telephone: 233302666174
Relevant Forms to Download
Not Available
Online System
Fees/ charges
Not Avaiable
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