banking license is a system in which banks provide a wide variety of comprehensive financial services, including those tailored to retail, commercial, and investment services.
Application for Licence
An application for a license shall be made in writing to the Head, Banking
Supervision Department, Bank of Ghana, Accra, and shall be
accompanied by:
a. A certified true copy of the Company Regulations or other
Instrument(s), relating to the proposed bank or specialized deposit-taking institution under which the person proposing to carry on the
the business of banking or deposit-taking was established;
b. The names, addresses, occupations, business, and professional
history, certified financial positions, and corporate affiliations of the
significant shareholders and details of their respective shareholdings;
c. When the applicant is a member of a corporate group;
(i) a complete organizational structure including a diagram of
the group
(ii) direct and indirect affiliates and associates of the applicant,
and
(iii) the nature of the relationship with the group
d. The particulars of the proposed directors and key management
personnel of the applicant, including
(i) their qualifications and experience,
(ii) business and professional history for the preceding ten (10)
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
e. A feasibility report including business plan and financial projections
for the first five years, and intended areas of specialisation as well as
Anti-Money Laundering policy and internal rules;
f. Documentary evidence of the capital of the applicant, including the
original sources of funds and particulars of the ultimate beneficial
owners;
g. In the case of foreign applicant
(i) notarised copies of the certificates of incorporation and
commencement of business, and the Company Regulations
(Articles of Incorporation) or other relevant instruments or bylaws or similar documents;
(ii) shareholders’ resolution; and
(iii) a written confirmation from the supervisory authority of the
country of the foreign applicant that the supervisory
authority has no objection to the proposal of the applicant
to carry on the business of banking or deposit-taking in
Ghana and that that supervisory authority exercises global
consolidated supervision over the foreign applicant;
h. A statement on measures and structures that the applicant’s
business would be conducted under sound corporate governance
principles and in accordance with the Anti-Money Laundering and
Anti-Terrorism laws of Ghana;
i. The processing fee that the Bank of Ghana may by notice specify
(kindly see 4.0); and
j. Any other particulars that the Bank of Ghana may require.