These guidelines replace the previous Guidelines for Branchless Banking (Notice No. BG/GOV/SEC/2008/21) and as such, the stipulations outlined therein are hereby rescinded, including the requirement for a many-to-many model and the applicability only to deposit-taking financial institutions.
These guidelines are issued as part of the Bank of Ghana’s broader strategy to create an enabling regulatory environment for convenient, efficient and safe retail payment and fund transfer mechanisms. They promote the use of agents as a channel for delivery of financial services and specify necessary safeguards and controls to mitigate the associated risks and ensure consumer protection safeguards. The guidelines cover connected matters surrounding the following topics:
1. Process to Gain Permission to Use Agents
2. Use of Agents
3. Oversight, Reporting, and Sanctions in Using Agents
4. Consumer Protection