PARLIAMENT PASSES THE GHANA DEPOSIT PROTECTION (AMENDMENT) BILL 2025.

Parliament of Ghana has today 18th March 2026 has passed the  Ghana Deposit Protection (Amendment)bill 2025. 

The bill was presented and read for the first time in parliament on Thursday, 3rd July, 2025  by the Hon Minister responsible for roads and highways Mr Kwame Govern Agbodza on behalf of the Hon Minister responsible for finance pursuant to Article 106 (1) of the 1992 constitution.

The objective of the bill is to amend the Ghana Deposit Protection Bill Act, 2016 (Act 931) to enable the Ghana Deposit Protection Corporation to be a better achievement of protecting depositors from loss as a result of the occurrence of an insured event. 

In an observation and recommendation report from the finance committee, they are of the view that, it is necessary to amend the Act to provide a specific mode of exercising the power of the board to review coverage limits. 

They also noted the bill aims to address the apparent silence of the current legislative regime on the mode of coverage of electronic money in spite of the fact that the coverage of the electronic money is implied in the definition of deposits. 

The report which was signed by the chairman, hon Isaac Adongo explained that the enhancement of the mandate with the promulgation of the bill will most importantly, shift the responsibility of funding bank failures from taxpayers to the industry.

The additional functions to the bill will enhance the relevance of the deposit insurance scheme and the corporation can also better achieve its objectives of protecting depositors and supporting the development of a stable market based financial system.

Report by PKB