The Bank of Ghana is warning the general public against activities of MONIDOUBLA, an online financial scheme, which allows members to pay transactions via mobile money.
According to the Central Bank, the operations of the financial entity are contrary to Section 6(1) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).
It says MONIDOUBLA threatens the safety and soundness of the financial system.
In a release, the Bank of Ghana says it wishes to inform the general public that “MONIDOUBLA is NOT LICENSED by the BANK to engage in any form of deposit-taking business”.
The Bank cautions that anyone who does business with MONIDOUBLA does so at his or her own risk.