Tier 3 Activities
All Tier 3 entities shall require not less than GH¢2,000,000.00 [Two Million Ghana Cedis only] as minimum paid-up capital.
The Bank of Ghana may issue an ‘approval-in-principle’ to the applicant on such terms and conditions as it may consider necessary and appropriate, if it is satisfied that: [a] the applicant would carry on the business with integrity, prudence and the required professional competence; and [b] The applicant has the capacity to raise the initial paid-up capital required to hold a licence.
The Central Bank may issue the final approval and licence to the applicant after satisfying itself that the following pre-licensing conditions have been met.
Tier 2 and 3 microfinance institutions shall pay the following fees:
MLAG MEMBERSHIP REQUIREMENTS
Attestation Letters (3) From:
MONEY LENDERS ASSOCIATION GHANA
P.O. BOX KN 4475, KANESHIE – ACCRA
Tel: 023-106-9444 030-232-9463