(1) A bank shall not carry on any business other than any of the following:

(a) acceptance of deposits and other repayable funds from the public;

(b) lending;

(c) financial leasing;

(d) Investment in financial securities;

(e) money transmission services;

(f) issuing and administering means of payment including credit cards, travellers cheques and bankers' drafts;

(g) guarantees and commitments;

(h) trading for own account or for account of customers in,

(i) money market instruments,

(ii) foreign exchange, or

(iii) transferable securities,

(i) participation in securities issues and provision of services related to those issues;

(j) advice to undertakings on capital structure, acquisition and merger of undertaking;

(k) portfolio management and advice;

(l) the keeping and administration of securities;

(m) credit reference services;

(n) safe custody of valuables;

(o) electronic banking; and

(p) any other services as the Bank of Ghana may determine.

(2) The Bank of Ghana may, by notification, restrict the permissible activities of banks in general or a class of banks or an individual bank or remove the restriction so imposed as it considers appropriate.