Regulatory Alerts2021-08-06
Explanatory Notes on the Revised Mergers and Acquisitions Directive for Banks and Specialised Deposit-Taking Institutions
The Bank of Ghana issued this August 2021 document to operationalize the Mergers and Acquisitions Directive for banks and specialised deposit-taking institutions, broadening its application scope to align with Act 930 and the Companies Act. It establishes a comprehensive three-stage approval process comprising pre-merger consent, provisional approval, and final approval, complete with specific timelines, updated licensing criteria, and post-merger compliance requirements. The revised framework also clarifies definitions, introduces resolution action exemptions, and outlines remedial measures and sanctions for non-compliance.
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