ARTICLE · 18 JANUARY 2023

Obtaining Banking License In Ghana

Asare Bediako & Co

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The Banks and Specialised Deposit -Taking Act, 2016 (Act 930) regulates the establishment and operation of banks and specialized deposit taking institutions in Ghana.

GhanaFinance and Banking

Kwame Asare Bediako

Maria Mbroba Biney

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The Banks and Specialised Deposit -Taking Act, 2016 (Act 930) regulates the establishment and operation of banks and specialized deposit taking institutions in Ghana. Savings and Loans companies, leasing companies and finance houses make up the Specialised Deposit-taking Institutions (SDI).

Bank of Ghana is the body authorized to regulate and issue licenses to Banks and Specialised Deposit – Taking institutions.

In order to establish and obtain banking and SDI licenses in Ghana, it must first be incorporated at the Office of the Registrar of Companies. This is done by filling the relevant forms and providing the required information which includes details of the proposed company, directors, shareholders, company secretary etc.

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