The Bank of Ghana announces for the information of all banks, Non Bank Financial Institutions and the general public that as part of measures to improve the current credit delivery system in the country, the Collateral Registry established under the Borrowers and Lenders Act 2008 (Act 773) has been set up by the Bank of Ghana.

The Collateral Registry will register charges created by borrowers to secure credit facilities provided by lenders. The Borrowers and Lenders Act makes it possible for a charge registered with the registry to be realized without a court order after thirty (30) days from the date of default by the borrower. In pursuance of Section 7 of the Act, the following Rules are made for the effective operations of the Collateral Registry.

Users of the Registry and its processes shall pay the prescribed fees. For the purpose of rolling put its operations, all universal banks that are already connected to the Central Securities Depository (CSD) platform will register charges with Registry electronically. Rural Banks, Finance Houses, Savings and Loans Companies and other Lenders shall register manually with forms obtained form the Bank of Ghana website www.bog.gov.gh or the Collateral Registry.

The operational processes and procedures of the Registry can be found in the Collateral Registry Operational Guidelines. Copies of these guidelines can be downloaded from the Bank of Ghana website www.bog.gov.gh or in hard copy available at the Collateral Registry.