THE DIGITAL AGENDA: LEGAL REFORMS TO ACCOMMODATE FINTECH IN GHANA (PART III)
PART 3: GRIEVANCE PROCEDURES, FOREIGN PARTICIPATION AND LICENSING REQUIREMENTS GRIEVANCE PROCEDURES UNDER THE PAYMENT SYSTEMS AND SERVICE ACT 2019 As indicated in the previous post, the Bank of Ghana has the power to reject an application for authorisation or a license. When this happens, the unsuccessful applicant is not barred from future
THE DIGITAL AGENDA: LEGAL REFORMS TO ACCOMMODATE FINTECH IN GHANA
PART 1: DEVELOPMENT OF FINTECH INTRODUCTION On 21st March 2019, Ghana passed the Payment Systems and Services Act 2019 (Act 987), as part of her initiatives to digitise her economy. The 2024 Cash-lite Agenda by the Bank of Ghana is to Foster efficient payments;[1] Improve financial inclusion; and Enhance financial innovations. In an