Agency Banking Guideline (Ghana)

The Bank of Ghana's Agency Banking Guideline, issued and effective in September 2025, governs the provision of financial services through retail agents in Ghana and is the framework under which banks, specialised deposit-taking institutions, electronic money issuers and payment service providers may deliver services through third-party agents. Agency (or agent) banking, in which shops, kiosks and other retail outlets act as cash-in/cash-out and service points using POS terminals and mobile devices, is central to last-mile financial inclusion in Ghana, and the guideline tightens the rules on how principals appoint, manage and remain responsible for their agents. The guideline is issued under the Payment Systems and Services Act 2019 (Act 987) and related banking law, and requires principals to obtain BoG approval/authorisation to operate agency banking and to conduct due diligence on agents. It sets out permissible and prohibited agent activities, transaction and float requirements, settlement arrangements, branding and disclosure rules, and consumer-protection obligations including transparent fees and complaint handling. A notable feature of the revised regime is the strengthening of principals' accountability, banks and other principals are required to actively monitor, train and 'police' their agents, together with mandatory periodic (bi-annual) agent training covering AML/CFT/CPF laws, money-laundering red flags and the identification of suspicious transactions, reflecting concerns about fraud and financial crime in the agent channel. Principals must maintain agent registers and report to the BoG, which supervises compliance through reporting, inspection and the power to sanction, suspend or terminate agency arrangements. By raising standards on agent oversight, training and financial-crime controls, the guideline shapes the operating environment for Ghana's extensive agent-banking and mobile money agent networks.

1. 1Governs delivery of financial services through retail agents by banks, SDIs, EMIs and PSPs under Act 987
2. 2BoG approval required to operate agency banking; mandatory agent due diligence
3. 3Strengthened principal accountability, obligations to monitor, train and 'police' agents
4. 4Mandatory bi-annual agent training on AML/CFT/CPF, money-laundering red flags and suspicious transactions
5. 5Rules on permissible activities, float, settlement, branding, fee disclosure and consumer protection
6. 6Agent registers and BoG reporting; supervision with powers to sanction, suspend or terminate arrangements