Enterprise Information of Tuesday, 31 March 2020
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The Financial institution of Ghana (BoG) has additional prolonged the deadline to the licensing requirement that the fee service suppliers are to fulfill, so as to operationalize the Cost Techniques and Companies Act, 2019 (Act 987).
This extension was made recognized in a press release issued by the Financial institution on Monday, March 30, 2020.
The primary of the deadline extension is the deadline for assembly the minimal capital necessities by all present Cost Service Suppliers and Digital Cash Issuers in addition to banks and specialised deposit-taking establishments is prolonged from June 30, 2020 to December 31, 2020.
The deadline for assembly the Cost Card Trade Knowledge Safety Customary (PCI-DSS) and ISO 27001 certification necessities has been prolonged from June 2020 to December 2020.
The Central financial institution signifies that on account of safety considerations, all present monetary expertise companies that intend to combine with GhIPSS are required to fulfill GhIPSS’ minimal safety and management necessities by December 31, 2020.
The regulator has additionally prolonged the deadline for assembly the minimal infrastructure and governance necessities from June 2020 to December 2020.
To operationalize the Cost Techniques and Companies Act, 2019 (Act 987), the central financial institution on September 12, 2019 issued a discover on the minimal capital necessities, permissible actions, charges, governance and programs necessities for Cost Service Suppliers and Digital Cash Issuers.
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