Parliament passes Deposit Protection Bill, 2025 covering e-money
At the centre of the changes is a broader mandate for the Ghana Deposit Protection Corporation (GDPC), which will now have expanded authority under the revised framework.
Ghana’s Parliament has approved amendments to the country’s deposit protection law, in a move aimed at widening coverage for customers and reinforcing confidence in the financial system. Reports on Wednesday said the Ghana Deposit Protection Amendment Bill, 2025 has now been passed.
At the centre of the changes is a broader mandate for the Ghana Deposit Protection Corporation (GDPC), which will now have expanded authority under the revised framework. The amendment updates the Ghana Deposit Protection Act, 2016 (Act 931) and is intended to improve the Corporation’s ability to shield depositors if a licensed financial institution collapses.
One of the most notable reforms is the extension of protection to electronic money, meaning funds held in mobile money wallets and similar digital channels can also fall within the scheme, where operationally feasible. That marks a significant broadening of the safety net beyond conventional bank deposits.
The amendment also gives the GDPC a wider financial stability role. Beyond compensating depositors after insured events, the Corporation is now expected to contribute to the development of a safer, more efficient and more resilient market-based financial system.
According to parliamentary reporting, the Finance Committee backed the bill after deliberations, saying the changes should strengthen depositor protection and support a more stable financial sector. The broader policy objective is to align Ghana’s deposit protection regime more closely with international standards and improve public trust in both traditional and digital financial services.
I did not find an official Parliament or GDPC publication in the search results confirming the passage text directly, so this rewrite is based on current media reports.
