The Bank of Ghana (BoG) has reinforced its commitment to ensuring financial inclusion for persons with disabilities (PWDs) by issuing a directive aimed at breaking down barriers in accessing financial services.This directive aligns with global financial inclusion standards, which emphasize secure, efficient, and accessible financial systems.

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It mandates financial service providers to improve service accessibility, expand service points, enhance interoperability, and implement targeted financial literacy programs for PWDs.

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Citing legal backing, the central bank referenced key legislations, including the Persons with Disability Act, 2006 (Act 715), the Borrowers and Lenders Act, 2020 (Act 1052), the Banks and Specialised Deposit Taking Institutions Act, 2016 (Act 930), and the Payment Systems and Services Act, 2019 (Act 987). These laws provide the framework for ensuring that PWDs have equitable access to financial products and services.

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The directive seeks to increase accessibility and usability of financial products for PWDs while compelling financial institutions to develop policies and infrastructure that promote inclusive banking. It is also guided by the principles of the UN Convention on the Rights of Persons with Disabilities, reinforcing the need for proactive measures to eliminate obstacles faced by PWDs in financial transactions.

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Penalties for Non-ComplianceThe BoG has made it clear that institutions failing to comply with the directive will face strict penalties.“A Financial Service Provider that fails to institute policies, procedures, and facilities as prescribed by this directive shall be liable to an administrative penalty of not less than two thousand penalty units,” the directive warns.

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This sanction is enforced under section 92 (8) of the Banks and Specialised Deposit Taking Institutions Act, 2016 (Act 930) and section 44 (3) of the Non-Bank Financial Institution Act, 2008 (Act 774).

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