This archive report was first published on 10 May 2020.
On May 10, 2020, Ghana's Central Bank announced plans to establish a new FinTech and Innovation Office, a move that seeks to enhance the Bank's cash-lite, e-payments, and digitization agenda.
The new office will be responsible for licensing and oversight of dedicated electronic money issuers, payment service providers, closed loop payment products, payment support solutions, and emerging forms of payment delivered by non-bank entities.
Furthermore, the office will also develop policies to promote FinTech, innovation, and interoperability in Ghana.
Notably, the International Central Banking Awards named the Bank of Ghana as the Central Bank of the year 2019 in February this year, citing an impressive record of achievements by the Ghanaian Bank as the reason for the recognition.
