The Central Bank, as part of its activity of regulating the financial institutions within the country and ensuring the financial system is stable to ensure that it serves as a facilitator for wealth creation, economic growth and development, has issued a disclaimer to the public urging citizens to disassociate itself from 6 unlicensed deposit taking institutions in the country.
“The Bank of Ghana wishes to inform the general public that the following entities have not been granted license to carry out deposit taking activities in Ghana” the statement said.
What this means is that these entities namely
- Global Coin Community Help International Limited (G.C.C.H)
- Wealth Drive Ghana Limited (WDG)
- Devonshire Place Capital Ghana Limited
- TCL Markets Ghana Limited
- FX– Crypto Traders
- Sonsis Susu Services;
are not governed by the Banks and Specialized Deposit Taking Institution Act 2016 (Act 930) which applies to banks, financial holding companies and deposit taking institutions excluding credit unions in the country.
The Bank of Ghana therefore disentangle itself with whatever risk and consequences that recalcitrant citizens who go ahead to do business with this institutions will face going forward.
“Hence, anyone who does business with these entities does so at his or her own risk and the Bank of Ghana will not be liable for the refund of any deposit lost by a depositor”
Find the full statement below
Story by: Yohaness Awunyo Kuvor|Universnewsroom.com