RESTRICTED
WORLD TRADE S/FIN/W/12/Add.40
4December 1997
ORGANIZATION(97-5341)
Original: English Committee onTrade inFinancial Services
COMMUNICATION FROM GHANA
Conditional Offer onFinancial Services
Addendum
ThefollowingcommunicationiscirculatedattherequestofGhanatoMembersoftheCommittee
onTrade inFinancial Services.
_______________
Ghana hereby submits itsschedule ofoffers onFinancial Services. Thisofferisconditional
uponasatisfactory conclusion ofthenegotiations onFinancial Services under theGeneral Agreement
onTrade inServices.
Ghana reserves therighttomodify orwithdraw allorpartofthisoffer, aswellastomake
anytechnical changes asconsidered necessary prior tocoming intoforce oftheagreement.S/FIN/W/12/Add.40
Page2GHANA
SPECIFIC COMMITMENTS -CONDITIONAL OFFER ONFINANCIAL SERVICES -DRAFT SCHEDULE
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orSub-sector Limitations onMarket Access Limitations onNational Treatment Additional
Commitments
A. Allinsurance and
insurance-related services
a) Lifeinsurance 1),2)Except incaseofpersonal effects, every
insurance effected inrespect ofany
goods imported intoGhana shall be
placed withaninsurer registered in
Ghana.1),2)None
b) Non-life insurance
consisting of:
-Fireinsurance
-Transport andaviation
insurance
-Motor vehicle
insurance
-Workmen 's
compensation
insurance
-Health insurance
c) Reinsurance business in
relation toanyorallthe
insurance businesses listed
above3) Atleast 40percentofthecapital or
other proprietary interest inthe
insurance business shall beowned bya
Ghanaian national; andforeign partners
areallowed toholdmanagement control
oflocal insurance firms.
4) Unbound except asindicated under
horizontal measures3) None
4) Unbound except asindicated under
horizontal measuresS/FIN/W/12/Add.40
Page3Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orSub-sector Limitations onMarket Access Limitations onNational Treatment Additional
Commitments
B. Banking andother
financial services
a) Acceptance ofdeposits
b) Credit facilities
c) Financial leasing
d) Payments services
e) Guarantees and
commitments
f) Trading inmoney and
capital market instruments
g) Other non-banking
financial services1) None
2) None
3) None except foralicensing requirement
based onprudential requirements.
4) Unbound except asindicated under
horizontal measures1) None
2) None
3) Government support maybeextended
forcompanies locating inrural areas. A
higher paid-up capital isrequired of
foreign service suppliers compared to
domestic service suppliers.
4) Unbound except asindicated under
horizontal measures