Parliament has enacted the Ghana Deposit Protection Amendment Bill, 2025, which is designed to enhance the capabilities of the Ghana Deposit Protection Corporation in safeguarding depositors from losses resulting from insured events.
With the revised legislation, the Corporation is set to assume a pivotal role in fostering a safe, sound, efficient, and stable market-oriented financial system, ensuring that the Ghana Deposit Protection Scheme is in line with global best practices.
Additionally, the amendment explicitly extends protection to electronic money, offering coverage in a manner that is operationally practical.
“The Finance Committee has thoroughly discussed the policy objectives of the Bill and believes that its approval will significantly enhance Ghana’s financial stability, protect depositors, and facilitate the development of a safe, sound, efficient, and stable market-oriented financial sector.
The purpose of the Bill is to amend the Ghana Deposit Protection Act, 2016 (Act931) to empower the Ghana Deposit Protection Corporation to more effectively fulfill its mission of protecting depositors from losses due to the occurrence of an insured event; to promote the development of a safe, sound, efficient, and stable market-oriented financial system; and to ensure that the Ghana Deposit Protection Scheme adheres to international best practices.
