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The banking industry has benefited from Ghana Card, according to Fidelity Bank MD

Julian Opuni, Managing Director of Fidelity Bank, has recognized and applauded the Ghana Card’s noteworthy contributions to the financial industry.

Banks link individual Ghana Cards to bank accounts

Following his meeting with the Oxford Business Group, Julian Opuni, the MD of Fidelity Bank, gave a statement in which he highlighted the significant progress the Ghana Card has achieved in enhancing security protocols and thwarting financial sector fraud.

He praised the Ghana Card’s contribution to cleaning up the financial industry, but he also emphasized the card’s robust biometric capabilities, readability of real-time data, and easy integration with other systems. He also mentioned the card’s role in supporting accurate Know Your Customer (KYC) compliance and anti-money laundering initiatives.

The Ghana Card

He also discussed how the Ghana Card has changed the risk profile of government securities, which could eventually make banks more interested in financing from the private sector.

Additionally, Mr. Julian Opuni mentioned the critical role the Ghana Card has played in enabling digital transactions, particularly the interoperability of mobile banking and mobile money, which he said is moving the nation closer to a cashless society.

Julian Opuni

“By utilizing the extensive database, both fintech and traditional banking institutions may provide a range of financial services and encourage cashless transactions. Because of these developments, entry barriers are reduced, especially for those from low-income backgrounds, and the financial ecosystem becomes more inclusive. In an interview with the Oxford Business Group, Opuni stated, “The Ghana Card provides accessible formal identification, especially for those in remote areas, by streamlining the online and in-person account opening process.”

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Bawumia warns GRA: Use the Ghana Card to expand your tax base

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Dr. Mahamudu Buwumia, the vice president, has pleaded with the Ghana Revenue Authority (GRA) to use the Ghana Card as the foundation for data and information in order to expand the nation’s tax base.

The Life changing Ghana Card

He claimed that the government has been able to raise the percentage of individuals with Tax Identification Numbers (TINs) from the 4% it inherited in 2017 to the current 85% since the TIN and Ghana Card systems were merged.

I’m warning GRA about this. Now that we’ve put this together, I’m stating that the data is available,” the vice president stated.

Dr. Bawumia with the Asante Hene

He bemoaned, “It is a very lazy approach to go and keep looking for taxes from people who are already paying their taxes when you can look at the vast majority who are not paying their taxes,” emphasizing that greater revenue would be generated and the tax net would widen before further tax increases were necessary.

Dr Bawumia made the appeal in a keynote address at the 57th Congregation of the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi last Friday.

The Ashanti Regional Minister, Simon Osei Mensah, the Vice-Chancellor of KNUST, Professor Rita Akosua Dickson, and the Asantehene, Otumfuo Osei Tutu II, who also serves as the institution’s Chancellor, honored the occasion.

Other guests in the jam-packed KNUST Great Hall included scholars, legislators, and traditional leaders. At the 57th Congregation of the KNUST in Kumasi, Asantehene, Otumfuo Osei Tutu II (3rd from left), and Dr. Mahamudu Bawumia (3rd from right) are shown beside other of the dignitaries who were awarded honorary doctorates.

Early in the next year, the Vice-President also alluded to the introduction of a personal credit score system by the government.
He claimed that “everyone would have a credit score” and that “interest rates were higher” since there was no credit score system and everyone was viewed as dangerous.

Vice President Bawumia bows to greet Otumfo


Nevertheless, Dr. Bawumia pointed out that the government had pledged its unwavering support to improve infrastructure and facilities, including the completion of the KNUST Teaching Hospital, in order to lessen the burden of student formation and training. This was in recognition of the demands made by the Free SHS on upper education institutions.

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