The Bank of Ghana has issued new guidelines for international money transfer operators in Ghana. The rules cover how IMTOs must register and operate within the country.
They are based on existing banking, foreign exchange, and payment systems laws. The guidelines apply to IMTOs working with banks, payment service providers, and other approved institutions. Their aim is to create a clear legal framework and define permitted activities and partnerships. Key principles include transparency, accountability, legality, and consumer protection.
IMTOs must be licensed in their home country before applying to operate in Ghana. The Bank of Ghana will approve or reject complete applications within 90 days.
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