Enterprises undertaking money lending activities shall include the words ‘Money lending’ in their names. Money lending shall involve the granting of micro-loans to their customers for such tenors as agreed between the lender and the borrower.
Tier 4 operators shall carry out their activities within a defined geographical area such as a town, city, a market or a suburb and shall not operate branches
MLAG shall collect and collate statistics on the operations on its members and furnish this to the Bank of Ghana periodically as may be determined.
Tier 4 Institutions are not allowed to take investment from the public. Members can however take personal loans, family assistance for their operation
The Micro-Credit Association Ghana [MCAG] incorporated on May 2, 2010 as an umbrella organization for Micro crediting organizations and individuals under the Companies Code 1963 (Act 179) as an association limited by guarantee
MCAG exists to provide credit to economically deprived individuals and businesses in a regulated, market-driven environment to improve standard of living in Ghana.