Bank of Ghana (BoG) Warns Against Borrowing from Unlicensed Firms
The Bank of Ghana (BoG) has warned Ghanaians against the patronization of some online loan applications. According to the BoG, the apps, totaling ninety-seven (97) in number, are without authorization.
In a statement copied to the media, the central bank said Ghanains should be wary in their dealings with the companies listed.
“The Bank of Ghana reiterated that the activities of these entities significantly breach customer data and privacy laws as well as consumer protection requirements and norms with unfavorable implications on the integrity and wellbeing of their patrons”, according to a statement from the Central Bank.
“The general public has been advised to consult the Bank’s website for the approved list of licenses institutions, before transacting any business with an institution.”
Bank of Ghana Public Notice: Lending Activities by Unlicensed Entities pic.twitter.com/lqqPJF62ng
— Bank of Ghana (@thebankofghana) June 14, 2023
Source: Peacefmonline