Regulatory Alerts2025-09-12
Explanatory Notes to the Bancassurance Directive for Banks and Specialised Deposit-Taking Institutions
The Bank of Ghana issued the 2025 Bancassurance Directive and accompanying explanatory notes to establish regulatory expectations for banks and specialised deposit-taking institutions operating under a Distribution Partnership model. The revised framework clarifies key definitions, prohibits financial institutions from making insurance purchases mandatory for accessing banking services, and mandates data protection and anti-money laundering compliance as supporting application documents. These changes ensure seamless risk management, prevent customer coercion, and standardize governance across Ghana’s banking and insurance sectors.
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