From July 1, 2020, the Ghana Card will be the only acceptable form of identification in banks and other regulated financial institutions.
In a statement released on Wednesday, January 19, 2022, the Bank of Ghana asked all regulated financial institutions to update customer data with the Ghana Card.
This complies with Section 30 of the Anti-Money Laundering Act of 2020 (Act 1044) and Regulation 12 of the Anti-Money Laundering Regulations of 2011. (L.I. 1987).
Specialized deposit-taking institutions, non-deposit-taking financial institutions, payment service providers, and dedicated electronic money issuers, as well as FX bureaus and credit reference agencies, are among the important entities.
Customers of regulated financial institutions should update their records with their respective financial institutions using the Ghana Card, according to the central bank.
The National Identification Authority verification transaction platform would be incorporated with the Bank of Ghana’s financial monitoring platform, according to the announcement.
“This is to ensure that all financial transactions conducted inside the ecosystem are linked to a single identity and information, as well as unique codes for transactions shared with the Bank of Ghana (BoG) to aid in the identification of initiators/beneficiaries for track and trace purposes.”
This will encompass transactions by banks, non-bank financial institutions, including mobile money carriers, according to the Bank of Ghana.
Ghana’s government is trying to make the Ghana Card the country’s primary identifying document.
It is now used to register for government services such as passports, as well as being combined with Social Security and the National Insurance Trust.
It is also necessary for the re-registration of Ghanaian SIM cards.