Business

Public cautioned against unlicensed banks

The general public has been advised against depositing funds with entities not licensed to take deposits.

In a statement issued Thursday, November 8, 2018 and signed by Frances Van-Hein Sackey, Bank Secretary, the central bank indicated that the entities, including Global Coin Community Help International Limited (G.C.C.H.), Wealth Drive Ghana Limited (WDG), Devonshire Place Capital Ghana Limited, TCL Markets Ghana Limited, FX-Crypto Traders and Sonsis Susu Services have not been licensed to carry out activities of taking deposits from depositors.

The bank is therefore, warning the public to be careful of deals with these entities as any business done with them would be at the risk of depositors. The Bank of Ghana said it would not be liable for the refund of any deposit lost by a depositor.

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