BoG releases MoMo interest payment schedule
The Bank of Ghana has released the schedule for the payment of accrued mobile money interest to customers.
The 2019 quarterly accrued interest payment dates are as follows:
First Quarter – Sunday, 21 April 2019
Second Quarter – Sunday 21 July 2019
Third Quarter – Sunday, 20 October 2019
Fourth Quarter – Sunday, 19 January 2020
The interest payment to Mobile Money (MoMo) wallet holders came into being thanks to the Bank of Ghana’s Dedicated Electronic Money Issuers (DEMI) Guidelines which allows banks to pay interest on cash flow from the mobile money platforms to the network operators, who, in turn, pay out 80% of that interest to their mobile money customers.
The Guidelines approve an interest level of between 1.5 per cent and 7 per cent to be paid on a wallet.
Tags:
Related Posts
Khayyam Jumani becomes Managing Director of J.P. Morgan Private Bank
Khayyam Jumani has stepped into the role of Managing Director at J.P. Morgan Private Bank, bringing with him…
ByLiquid Intelligent completes $855m refinancing and recapitalization
Liquid Intelligent Technologies has completed an $855 million recapitalisation and debt refinancing, supported by a $195 million equity…
IHS Nigeria, NCMM to renovate national Museum Lagos
IHS Nigeria, a subsidiary of IHS Holding Limited (NYSE: IHS) and one of the world’s largest independent tower…
Lagos Games Week returns to drive Nigeria’s stake in $200bn global industry
Lagos Games Week returns to the iconic National Theatre on 18–19 June with a clear ambition to position…
Gallery
