GCB Bank has introduced a dedicated Hajj Savings Account to help Muslim customers prepare financially for the holy pilgrimage while safeguarding them from the risks associated with unregulated agents.

At the launch, the bank’s Executive Head of Retail Banking, Sina Kamagate, described the initiative as a reflection of GCB’s commitment to inclusive and responsible banking.

“This day is endearing to all of us because GCB has always remained an inclusive bank,” he said. “Today, what you have witnessed is a further demonstration of how inclusive and responsible our banking solutions are.”

The account allows customers to begin saving with as little as GHS 50 and ensures that funds are transferred directly to the accredited Hajj Board, with agents duly notified—removing the possibility of fraud.

“We have heard several reports of agents who absconded with pilgrims’ funds in the past,” Kamagate explained. “With the Hajj Savings Account, you no longer have to entrust your money to individuals.”

The product also comes with insurance cover from Hollard Life Insurance, at no extra premium. Benefits include death compensation for families of account holders, as well as protection against theft and property loss.

Kamagate emphasized the account’s flexibility, noting that customers can continue saving even after performing Hajj or convert it into a regular savings account for other goals, such as holidays or personal projects.

The initiative ties into GCB’s broader agenda to deepen Islamic banking in Ghana. Kamagate revealed that the bank is working toward establishing a fully-fledged Islamic banking unit, following recent discussions between the Bank of Ghana and the National Chief Imam.

With Hajj 2026 fast approaching, GCB is urging early sign-ups, highlighting that consistent contributions of GHS 100 a month could help customers achieve their pilgrimage dreams.

The government’s latest Treasury bill auction bounced back strongly last week, recording its first oversubscription in four weeks.

According to fresh data from the Bank of Ghana, investors submitted bids worth GH¢4.38 billion across the 91-day, 182-day, and 364-day bills. Out of this, the Treasury accepted GH¢4.36 billion—exceeding its GH¢3.78 billion target by 15.34 percent.

A closer look at the figures shows that nearly all bids were absorbed: GH¢3.62 billion of GH¢3.63 billion for the 91-day bill, GH¢566 million of GH¢576 million for the 182-day, and GH¢182 million out of GH¢187 million for the 364-day.

Market analysts say the oversubscription was driven by a lower issuance target and stronger investor appetite, giving the government room to take up almost all bids.

On yields, the short-term securities saw marginal movements. The 91-day rose by 10 basis points to 10.42 percent, while the 182-day gained 4 basis points to 12.41 percent. The 364-day bill, however, dipped slightly by 2 basis points to 12.97 percent.

Looking forward, the government aims to raise GH¢8.2 billion at the next auction.

The Bank of Ghana (BoG) has suspended the operations of five Money Transfer Operators (MTOs) for a one-month period, effective September 18, 2025.

The affected companies are Taptap Send, Top Connect, Remit Choice, Send App, and Afriex.

In a statement, the Bank’s Communications Department explained that the suspension stems from breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers (2023), as amended by Notice No. BG/GOV/SEC/2025/25.

Investigations revealed that the suspended firms engaged in unauthorised remittance transactions with Halges Financial Technologies Limited, Cellulant Limited, and Flutterwave Inc., using UBA Ghana as their settlement bank.

The regulator indicated that these MTOs will only be permitted to resume operations after their partner payment service providers (PSPs) or banks submit new applications for approval, which will be reviewed following the suspension period.

The BoG also cautioned all players in the foreign exchange market to strictly comply with existing forex market rules and guidelines to avoid facing similar sanctions.