The new directive is in accordance with Regulation 7 of the National Identity Register, 2012 (L.I. 2111).
A statement signed by the BoG secretary, Sandra Thompson on January 19 said, “…with effect from July 1, 2022, the Ghana Card shall be the only identification card that will be to undertake transactions at all Bank of Ghana licensed and regulated financial institutions…”.
The BoG urged all financial institutions to ensure that their database is updated with their customers’ Ghana card details.
Meanwhile, the BoG says it is working to merge the NIA’s verification transaction platform into its monitoring systems for ‘Know Your Customer’ purposes..
“This is to ensure that all financial transactions performed within the ecosystem are 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 statement added.
Institutions to be affected include banks, Specialised Deposit-Taking Institutions, Non-Deposit-Taking Financial, Institutions, Payment Service Providers and Dedicated Electronic Money Issuers, Forex Bureaus and Credit Reference Bureaus among others.