Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930)

Section 7: (1) A person who seeks to carry on a deposit-taking business shall apply in writing to the Bank of Ghana for a licence.(2) An application for a licence under subsection (1) shall be accompanied with the following:(a) a certified true copy of the Company Regulations or other relevant instrument relating to the proposed bank or specialised deposit-taking institution under which theperson proposing to carry on a deposit-taking business was established;(b) the names, addresses, occupations, business and professional history, certified financial positions, and corporate affilia- tions of the significant shareholders and the respective values of the shares;(c) where the bank or specialised deposit-taking institution is a member of a corporate group,(i) a complete organisational structure including a diagram of the group;(ii) direct and indirect affiliates and associates of the bank or specialised deposit-taking institution, and(iii) the nature of the relationship to the group;(d) the particulars of the proposed directors and key management personnel concerned with the management of the deposit- taking business, including(i) their qualifications and experience,(ii) business and professional history for the preceding ten years or a longer period that the Bank of Ghana may determine,(iii) certified financial position,(iv) business interests, and(v) the performance of the business concerns under their control or management; (6) For the purpose of this section, "authorised agent" includes an apex body, network, industrial association, self-regulatory organisation or any other person recongnised by the Bank of Ghana.

Procedures to Follow

Not Avaiable

Responsible Institution

Bank of Ghana

Accra Central

Relevant Forms to Download

Not Available

Fees / Charges

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