BOG Releases Names Of Licensed Micro-finance Institutions 

The Bank of Ghana (BOG), says it is taking steps to address challenges in the microfinance sector.

A statement signed by its Secretary, Caroline Otoo, says BOG has been monitoring Micro-finance Institutions (MFIs) through offsite surveillance and onsite examination, and has also held a number of meetings with the shareholders and management of the affected institutions.

Below is the full statement

NOTICE TO THE BANKS AND THE GENERAL PUBLIC
NOTICE NO. BG/GOV/SEC/2018/05
NOTICE ON LICENSED MICROFINANCE INSTITUTIONS
The Bank of Ghana has noted the challenges in the microfinance sector and would like to assure the public that it is taking steps to address these challenges.

The Bank has been monitoring Microfinance Institutions (MFIs) through offsite surveillance and onsite examination, and also has held a number of meetings
with the shareholders and management of the affected institutions.

Together with the Government, the Bank is working on a comprehensive reform program to address the challenges in the sector, and strengthen regulatory and supervisory oversight.

For the avoidance of doubt, the list of names of licensed MFIs in general compliance with Bank of Ghana’s guidelines, is attached.

(Sgd.)
CAROLINE OTOO (MRS)
THE SECRETARY
8th March, 20

Attached is the  list of names of licensed MFIs in general compliance with Bank of Ghana’s guidelines.

GBCONLINE
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