Bank of Ghana, EMTECH launches new regulatory sandbox to promote FinTechs – Citi Business News
In line with its commitment to develop an enabling and inclusive regulatory environment that promotes FinTechs and support innovation, the Bank of Ghana in partnership with EMTECH Service LLC, has launched a regulatory and innovation sandbox pilot. A statement issued by the Central Bank stated that, the regulatory and innovation sandbox will provide a forum for financial sector innovators to interact with the sector regulator to test digital financial service innovations while evolving enabling regulatory environment. "Innovations eligible for the sandbox environment will have to satisfy broad categories such as new digital business models not currently covered explicitly or implicitly under any regulation; new and immature digital financial service technology; and innovative digital financial services products that have the potential of addressing a persistent financial inclusion challenge," it added.
