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BoG clamps down on hidden bank charges; tightens rules on interests, other fees.
The Bank of Ghana is preparing to roll out a stringent set of directives targeting opaque bank charges, unsafe digital lending practices and governance lapses within the banking sector.
This is part of new measures to protect customers and strengthen regulatory oversight.
The Central Bank is signalling a tougher stance on commercial banks that continue to impose arbitrary fees under the guise of operational cost recovery, warning that the era of unchecked charges will no longer be tolerated.
Governor of the Bank of Ghana Dr. Johnson Asiama, disclosed this at the opening session of a post-Monetary Policy Committee meeting with Heads of Banks where he announced that authorities are finalising comprehensive policy directives that will set clear benchmarks on pricing disclosures across licensed banks.
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