There appears to be some “serious fight” between the Bank of Ghana and the Communications Ministry over financial data of mobile money customers. 

Documents cited by JoyBusiness shows strong exchanges between these two institutions.

According to persons close to the Communications Ministry, their decision to push for the data was based on the fact that Kelni GVG which has been selected by government to monitor telcos for real-time call traffic need the data to aid its work.

Developments

Documents cited by JoyBusiness shows the Communications Ministry in a strongly worded letter instructing the Bank of Ghana to allow Kelni GVG access data covering individuals who use mobile money.

The Bank of Ghana, however, refused to comply with this directive. Another letter from the Ministry sought to use some harsh words at the Bank of Ghana officials following their decision to refuse their request.

Bank of Ghana’s responds

The Bank of Ghana in a separate letter insisted that even though it is willing to work with the various regulators, the current laws do not allow it to hand over such confidential data to Kelvi GVG.

BoG has therefore written to the various telcos to disregard the earlier letter from the Communications Ministry.

A source close to the regulator also maintains that handing over such data would breach the Guidelines of Electronic Money Issuers and the Data Protection Act.

Sources say there have been some informal meetings between the two parties and even the Ministry of Finance to resolve the issue.

However, it is not clear for now whether, the Communication Ministry, National Communication Authority and Kelni GVG have agreed to review their position after these informal meetings.

TELCOS CONCERNS

JoyBusiness understands some of the Telcos are also worried by how the disagreements are impacting on their operations.

WHO IS RIGHT?

Persons with knowledge of the best practices in the other parts of the world have all argued that the Bank of Ghana is right over the stance it has taken on this issue.

Others have argued that many customers have mobile money wallets which are linked to their bank accounts, so if, Ministry of Communications and National Communications Authority wants Kelni GVG   to see the transactions, then it has to be done with the permission of the Bank of Ghana.

Another player in the industry tells JoyBusiness that the oversight of mobile money transaction clearly falls under the Central Bank and there is no way such information can be handed over to Kelni GVG. Source: myjoyonline.com