How To Spend

BoG to meet GRA, financial sector stakeholders over illegal mobile money deductions

1 Mins read

BoG to meet GRA, financial sector stakeholders over illegal mobile money deductions

The Bank of Ghana will tomorrow February 6, 2024, meet officials of the Ghana Revenue Authority and stakeholders within the financial sector to address concerns regarding unauthorised deductions on mobile money transfers.

This is coming after several mobile money users complained about unauthorized deductions during transactions.

Following the implementation of the Electronic Transfer Levy, some mobile money users have been complaining of deductions which is far more than the authorised 1.0% levy.

Deputy Ranking Member on Parliament’s Communications Committee, Sam George, addressing the media in Parliament on Monday, February 5, 2024, called on the authorities to address the issue with urgency.

He expressed worry about the implementation construction of the e-levy, urging the government to do the needful

“I still hold the view that the whole implementation architecture of this e-levy is problematic and the government needs to sit down and understand what it wants to do and not be in a hurry. President Akufo-Addo told us he is in a hurry but he is in a hurry to fail and that is exactly what they are achieving”.

He also revealed the upcoming meeting involving the Bank of Ghana, Electronic Money Issuers (EMIs), telecommunications companies, and banks. The discussion aims to address the systemic issues associated with the ELMAS system.

“I am aware there is a meeting where the Bank of Ghana, the EMIs the telcos and the banks are supposed to sit to have a conversation. Because there is a problem with the system that is run.

See also  Electricity tariffs for residential consumers within consumption bracket of 301kWh to drop by 6.5%, says PURC

“They have the ELMAS system or something. And what is happening is the banks and the EMIs are not doing real-time uploads of data to the ELMAS system”, he added.

Source : Joynews

Related posts
How To Spend

Internet disruptions: GRA to ensure refund to entities wrongfully charged E-levy

1 Mins read
Internet disruptions: GRA to ensure refund to entities wrongfully charged E-levy In the wake of recent internet disruptions, the Ghana Revenue Authority…
How To Spend

Shareholders of MTN Ghana approve a dividend of 17.5 pesewas per share.

1 Mins read
Shareholders of MTN Ghana approve a dividend of 17.5 pesewas per share. Shareholders of MTN Ghana have approved a final dividend payout…
ElectricityHow To SpendMatters Arising

ECG is required by PURC to submit a load management schedule by April 2.

1 Mins read
Dumsor: PURC orders ECG to provide load management timetable by April 2 The Public Utilities Regulatory Commission (PURC) has directed the Electricity…

2 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *