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Fit and Proper Persons Directive, 2019 🇬🇭

Ghana

Directive bog-fppd

Fit and Proper Persons Directive, 2019

  • Commenced on 1 July 2019
  • [This is the version of this document from 1 July 2019.]

Part I – PRELIMINARY

1. Title

This Directive may be cited as the Fit and Proper Persons Directive, 2019.

2. Application

This Directive is issued pursuant to Section 92(1) of the Banks & Specialised Deposit Taking Institutions Act, 2016 (Act 930) and shall apply to Banks, Savings and Loans Companies, Finance Houses and Financial Holding Companies licensed or registered under Act 930.

3. Objective of the Directive

The objective of this Directive is to:
(a)operationalise relevant provisions of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) and provide guidance in determining the fitness and propriety of a significant shareholder, a director or a key management personnel in a Regulated Financial Institution;
(b)prohibit persons who are not “fit and proper” from engaging in or undertaking licensed or registered activities under Act 930;
(…

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