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Bank of Ghana’s new fees for Collateral Registry services take effect

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bank-of-ghanaThe Bank of Ghana has revised its fees for offering Collateral Registry services to financial institutions in the country.

In a statement, the central bank the revision which came into effect January 2, 2014, is in pursuant to Section 7 of the Borrowers and Lenders Act, 2008 (Act 773)

The new fees for the services of the Collateral Registry are as follows:

Registration of a charge/secured interest: GH¢10

Searches: GH¢5

Renewal of a Registered Charge: GH¢5

The BoG advised all banks including rural and community banks, non-bank financial institutions, and the general public to take note of the new fees.

By Ekow Quandzie

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