The Bank of Ghana has established a new fintech and innovation office to drive the bank’s cash-lite, e-payments, and digitisation agenda.
The emergence of fintech solutions, according to the central bank has introduced significant complexities that require the sector supervisor’s focus, to understand and supervise effectively.
The new fintech and innovation office will be responsible for licensing and oversight of dedicated electronic money issuers (mobile money operators), payment service providers (PSPs), closed-loop payment products, payment support solutions and other emerging forms of payment delivered by non-bank entities.
The office will also develop policies to promote FinTech, innovation and interoperability in Ghana.
The BoG advised stakeholders and the general public to contact the fintech and innovation office for further information and to direct all enquiries to the Head FinTech and Innovation Office. BoG establishes new fintech & innovation office