The Bank of Ghana has responsibility for the supervision and regulation of all deposit-taking business in Ghana. This supervisory mandate is derived from the Bank of Ghana Act, 2002 (Act 612) and the new Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

As part of the Bank of Ghana's regulatory and supervisory functions, it is empowered to prescribe the minimum paid-up capital for banks and specialised deposit-taking institutions ("SDIs"). In terms of section 28 of Act 930, Act 930 confers on the Bank of Ghana the duty to prescribe for banks and SDIs, a minimum paid-up capital unimpaired by losses, including accumulated losses or adjustments to be maintained in Ghana.