Bussiness
July 1 Deadline: You Wil Not Lose Your Account But Your Risk Profile Will Increase – Bank To Customers
Bank customers who fail or are unable to link their GhanaCard to their bank accounts before the July 1 deadline, will not lose the account but will have their risk profile elevated, Deputy Chief Executive Officer of the Ghana Bankers Association, John Awuah has said.
If they fail to link the Card to the accounts, the banks are going to scale up due diligence when such customers attempt to transact business, Mr Awauh stressed.
The Bank of Ghana (BoG) had earlier directed that starting July 1, the GhanaCard shall be the only identification card to undertake transactions at all BoG licensed and regulated financial institutions.
“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 including: i. Banks; ii. Specialised Deposit-Taking Institutions; iii. Non-Deposit-Taking Financial Institutions; iv. Payment Service Providers and Dedicated Electronic Money Issuers; v. Forex Bureaus and Credit Reference Bureaus,” the regulator said.
Speaking in interview with TV3, on Thursday June 30, just a day before the deadline, Mr John Awuah said “If you don’t have it and the deadline comes, yes, your account will not be closed but the risk profile for your account will just be elevated and therefore, there will be extra due diligence that the banks will ask before you can transact.
“This is a situation you don’t want to put yourself into. So for your own convenience and for your own safety, the GhanaCard also provides extra safety in terms of security features. Some banks have sent links to their customers to update their records.”
Meanwhile, the Economic and Organized Crime Office (EOCO) has warned that fraudsters are taking undue advantage of the exercise to link the GhanaCard to bank accounts.
EOCO said these fraudsters send messages to suspecting customers demanding their bank account details, Mobile App PIN and Mobile numbers.
A statement by EOCO on Thursday June 30 said it has taken “notice with great concerns the rate at which some members of the general public have fallen victims to fraudulent banking transactions.
“Fraudsters have taken advantage of the ongoing call on customers of bank to link their accounts to Ghana Card. Regarding the bank fraud, the fraudulent messages are sent to individuals requesting them to click on links in order to update their bank records.
“Customers are therefore asked to provide their bank account names, Mobile numbers, Mobile App PIN , One Time Password. Some daring fraudsters even make phone calls to members of the public to request for the aforementioned information.
“Do not click on any link purporting to be emanating from your bank unless you have confirmed from your bank,” EOCO warned.
Source: 3news
Bussiness
Finance Minister tranfers funds to DACF, NHIS and GETFUND
The Minister for Finance Hon. Cassiel Ato Forson has disclosed that a sum of nine hundred and Eighty-Seven Million, Nine Hundred and Sixty-Five thousand and Seventy-Three Ghana Cedis (GHS987,965,073.00) from the Consolidated Fund into the District Assembly Common Fund Account, being the first quarter amount due to the DACF.
Furthermore, the Finance Minister informed the House that a total amount of Two Billion, Thirty- Three Million, Four Hundred and Sixty-Nine Thousand, Six Hundred and Seven Ghana Cedis (GHS2,033,469,607) has been disbursed to the National Health Insurance Fund.
While the Ghana Education Trust Fund has also received a total of Two Billion, Seven and Ten Million, Two Hundred and Twenty-Seven Ghana Cedis (GHS2,710,227,947.00) for the months January, February, March and April,2025.
The Finance Minister disclosed this in his statement to Parliament on the payments to statutory funds on the floor of the House.
In addition, he cautioned that the Administrator of the District Assembly Common Fund is required to ensure that 80% of this amount is transferred directly to the Assemblies without fail and expenditure returns submitted to the Ministry of Finance before subsequent releases will be made.
He added that Members are encouraged to monitor the utilization of these amounts sent to their respective Assemblies in line with the approved guidelines by Cabinet.
In his closing remark, Ato Forson said he’s going to take the concerns of the House seriously.
For his part, the Majority Leader, Mahama Ayariga made known the President’s prioritization of women in the country stating that President Mahama is “Pro-women”.
This is due to the fact that women are going to be the core beneficiaries from the expenditures going to be made by the MMDA’s, he added.
The Minority Leader Alexander Afenyo-Markin questioned the Finance Minister why road contractors have not been paid for more than five months. He said the Minister must not be applauded for since the allocation of these funds were long overdue.
Bussiness
Charterhouse announces the Business Elevate Series with launch of ‘The Gastro Feastival’
Charterhouse, Ghana’s leading event management and audiovisual production company, is marking its 25th anniversary of delivering top-tier events with the introduction of an exciting new initiative: The Business Elevate Series.
This innovative series is designed to shine a spotlight on key economic sectors through a series of dynamic B2B and B2C events, including industry conferences, seminars, and exhibitions.
Kicking off the series is The Gastro Feastival, a groundbreaking annual food industry festival that will showcase Ghana’s rich and diverse food ecosystem and agribusinesses from production to consumption.
The launch event will take place on Friday, March 7, 2025, from 4:00 PM to 6:00 PM at the Grand Arena (Accra International Conference Centre).
This landmark event will bring together food industry stakeholders, enthusiasts, experts, and organizations to highlight the food industry’s critical role in Ghana’s socio-economic development and culture.
It will also promote food security, digital innovation, women’s empowerment, youth employment in agribusiness, and sustainable practices.
The Business Elevate Series is a game-changing initiative designed to foster growth and transformation across multiple sectors. With Charterhouse’s deep expertise in organizing impactful meetings, the series aims to unlock investment opportunities, drive innovation, and catalyze social and economic change.
The Gastro Feastival will address six major pillars that drive industry transformation: Investment Opportunities; Job Creation; Innovation, Technology, and Digitization; Youth Involvement (entrepreneurship and career opportunities); Women’s Involvement; Environmental and Social Governance (ESG); Export Opportunities
The event will also establish a Resource Bank, spotlighting key growth opportunities and ensuring the effective allocation of resources to transform Ghana’s food industry.
The Gastro Feastival is a Charterhouse initiative, with Kosmos Innovation Centre as the technical partner.
