|Frequently Asked Questions|
|Wednesday, 11 August 2010 12:24|
What are Treasury Bills/Notes?
Buying and selling of treasury bills/notes is open to all Ghanaian citizens,institutions and foreign residents in Ghana and abroad. However acquisition of Forex for repatriation of funds is not guaranteed.
With the introduction of the weekly wholesale auction, available instruments will be advertised in the national papers. Currently, the available instruments are the 91 day and 182 day treasury bills, as well as 1 year note. These may be purchased with a minimum amount of GH¢500. Treasury bills/notes may be bought on the primary or secondary market. Also available are the following shorter terms bills issued by Databank on it’s own account: 7 Day, 28 Day, 42 Day, 56 Day and 84 Day. These may be purchased with a minimum amount of GHC¢100.
Under the new system, effective October 6,1997 individuals will not be allowed to buy directly from BOG but from a Primary Distribution (PD) such as Databank Brokerage Limited. You can contact either our Accra Office or Kumasi Office with two passport sized photos, driver's license, passport or voters ID. You will fill an application form indicating the amount you wish to buy and type of instrument. Databank Brokerage Limited will then do the purchase on your behalf and advice you immediately upon successful completion. As a PD, Databank is licensed to buy and sell such securities on behalf of the general public. Databank has specialists who focus on providing very efficient and personalized fixed income services to our clients.
Databank as designated distributor:
Will provide the following administrative services free of charge
Is There A Limit To The Amount Of Treasury Bills/Notes I Can Purchase?
No, there is no upper limit but a minimum amount of ¢50 face values is required for the purchase.
No, There is no need for a bank account before you buy the bill or note from Databank.
How Do I Get Information ON MY INVESTMENT?
Do I Have To Pay Fees For Services Rendered?
All services provided by Databank are free for BOG and GOG treasury investments (Databank receives a commision paid by the BOG).
What Happens To My Investments At Maturity?
At maturity, Databank Brokerage Limited will instantly
Can I Change My Instructions?
Yes a minimum of 7 working days is required for any change of instruction before the maturity of a bill.