Business News of Monday, 8 June 2020Source: B&FT OnlineBoG’s digital currency still under consideration – 1st Deputy GovernorDr. Maxwell Opoku-Afari, First Deputy Governor of the BoGFirst Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari, has assured that the bank is still interested in developing a virtual currency for the economy to promote the cash-lite agenda. It subsequently established the Payment Systems Department in 2016 to adequately supervise a growing mobile money sector, in addition to ensuring an effective payment system. The narrow target of Electronic Money Issuers Guidelines meant that Fintechs which were not electronic money issuers were regulated out of the ecosystem. He further assured of the Bank’s support to the payment sector in churning out innovative products. “We will continue to work with you to ensure that you are taken through the licensing process to enable you deliver value to consumers and the broader financial sector,” he said.

Source: GhanaWeb June 08, 2020 07:07 UTC