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Thursday, June 13, 2024

Bog introduces on the net payment service for the Collateral Registry Technique

The Lender of Ghana (Bog) has introduced an online payment provider for the Collateral Registry net-primarily based program.

The go according to the Bathroom is to address the inconveniences involved with the present pre-compensated manner of payment.

In a statement, the central lender claimed: “This on the web payment services affords clients of the Collateral Registry the choice to pay for the companies rendered by either Mobile Funds (MTN MoMo, Vodafone Funds and AirtelTigo Income) or Visa/MasterCard.”

Below the statutory Mandate of the Debtors and Lenders Act 2008 (Act) 773, the Bank of Ghana operationalized the institution of the Ghana Collateral Registry on 1st February 2010, to sign-up charges and collaterals designed by borrowers, to secure credit history amenities presented by loan providers.

This was pursuant to its mandate to regulate, supervise and immediate the banking and credit system, and assure the smooth operation of the money sector.

The Collateral Registry operates a 24/7 net-based mostly method, which serves lending establishments and the basic general public.

The use of some products and services of the Registry needs payment. The recent modes of payment are the put up-paid out method and the pre-paid manner, which have to have a deposit to be created at the Lender of Ghana.

On the other hand, the introduction of this on line payment service is to handle the inconveniences connected with the current manner of payment.

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