The Ghanaian and the Nigerian central bank open the respective regulatory sandbox application process-fintech

29. Januar 2023

Krypto News Österreich

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The Ghanaian and the Nigerian central bank have invited financial innovators who want to be included in their respective regulatory sandboxes to submit applications. The Bank of Ghana said its sandbox would also support innovations who try to solve the problem of financial exclusion.

solve the challenge of financial exclusion

The Ghanaian central bank has asked registered financial institutions and non-licensed fintech startups to apply for inclusion in their regulatory sandbox. In a press statement issued on January 26, the bank said that the procedure for the approval of the first cohort of participants will begin on February 13th and end on March 14th.

According to the Bank of Ghana (Bog), the Sandbox Innovations will support the "new digital business models that are currently neither explicitly nor implicitly fall under regulation". The sandbox will also support innovations that try to solve the problem of financial exclusion, as well as "new and immature digital financial services technology".

as reported ghanas central bank on August 22, 2022 The sandbox started with cooperation Emetech Solutions Inc. was developed for innovation to promote financial inclusion and to facilitate Ghanas digitization and cash liter agenda. ”

According to the press release, interested participants must submit a complete form that can be called up via a link. The explanation adds that potential participants "will be informed about the result of their respective application within March 14, 2023. Meanwhile,

the Nigerian counterpart of the BOG, the central bank of Nigeria, recently said that its own regulatory sandbox is now active. The bank said that interested innovators can now "submit interest to participation in the regulatory sandbox to explore new applications of technology and innovation on behalf of our customers and interest groups".

In a Video The Nigerian central bank announced via Twitter that all companies can apply online with innovative financial solutions.

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Terence Zimwara

Terence Zimwara is an award -winning journalist, author and writer from Zimbabwe. He wrote in detail about the economic problems of some African countries and how digital currencies Africans can offer an escape route.

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