Finance industry pushes govt for policy on electronic banking – Ghana

The Chronicle in Ghana reports that the United Bank for Africa (UBA) Ghana has called on government to enforce policies to regulate electronic banking in the country.

United Bank for Africa in Ghana has urged government to lay down policy to regulate electronic banking. (Image: Flickr/ Hakan Dahlstrom)

The report quotes Mr. Abu Yahaya, Head of Product Sales at UBA Ghana as saying that the policies would lead to an increase in the use of electronic products such as payment of pension benefits on cards and mobile phones.

Speaking on the topic of ‘branchless banking’, Mr Yahaya urged the government to create an “enabling environment’’ to attract businesses with the capacity and financial resources to establish reliable infrastructure that could facilitate and drive electronic transactions.

According to the report Mr. Yahaya also requested that government grant tax incentives for the importation of equipment to be used for branchless banking rollout and operations.

The issue of correlation of banking systems in order to that resources could be shared and additional customer touch-points established for the convenience of customers.

UBA Managing Director, Mr. Oliver Alawuba, said the financial institution views branchless banking as “the future of banking in Ghana.”

Banks should embrace this as the way forward to add value to customer service he said.

Staff Writer