The Ghana Association of Banks (GAB) has dismissed reports suggesting irregularities in the handling of Import Declaration Forms (IDFs) by some banks, clarifying that banks do not generate or issue IDFs.
In a statement signed by GAB Chief Executive Officer John Awuah on Tuesday, October 21, 2025, the Association explained that IDFs are customs documents managed solely by the Ghana Revenue Authority (GRA) through the Integrated Customs Management System (ICUMS).
Banks, it said, only facilitate legitimate trade payments in line with guidelines from the Bank of Ghana (BoG) and the GRA.
The GAB noted that some importers have exploited loopholes in the system by using IDFs to make advance payments and later generating new forms to evade customs duties through under-invoicing, actions that occur outside banks’ oversight.
To address this, the GAB said it has collaborated with the BoG, GRA, and ICUMS to form a consultative committee to review the IDF process and close existing loopholes.
The Association added that both the BoG and the banks have completed their parts of the review, while engagements with the GRA and ICUMS are ongoing.
The statement also clarified that the USD 200,000 transaction limit applies only to importers without complete documentation, while customers with verified import papers can process payments above that threshold.
The GAB reaffirmed its commitment to compliance, transparency, and ethical banking practices, stressing that the alleged irregularities arise from misuse of the IDF system by some importers, not from the banks themselves.
Source: AdomOnline
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