As an expert familiar with Ghana’s regulatory framework, including post-cleanup consolidations, note that Act 930 (not Act 90, likely a typo) is central. I’ll correct contextually.

a. Four Other Laws Related to the Banking System (4 marks):

1. Bank of Ghana Act, 2002 (Act 612) – Establishes BoG’s supervisory powers.
2. Anti-Money Laundering Act, 2008 (Act 749) as amended – Mandates AML/CFT compliance.
3. Bills of Exchange Act, 1961 (Act 55) – Governs negotiable instruments.
4. Payment Systems and Services Act, 2019 (Act 987) – Regulates digital payments and fintech.

b. Four Differences Between a Bank and a Microfinance Institution (MFIs) (16 marks):

1. Regulatory Oversight and Licensing: Banks are licensed under Act 930 by BoG for full banking, requiring higher capital (e.g., GH¢400m post-2019), while MFIs (Tier 2-4) have lower thresholds (e.g., GH¢2m for Tier 2) and focus on micro-lending, per BoG’s tiered framework.
2. Scope of Services: Banks offer comprehensive services like forex and corporate lending, whereas MFIs specialize in small loans to low-income groups, without complex products, aiding inclusion but limiting scale, as in Sinapi Aba’s microfocus vs. GCB’s broad portfolio.
3. Deposit Mobilization: Banks accept demand deposits from the public for on-lending, while MFIs (especially Tier 3-4) have restrictions on deposit types and amounts, emphasizing savings mobilization for micro-enterprises under BoG directives.
4. Risk and Capital Requirements: Banks adhere to Basel III-adapted standards with higher CAR (13% per CRD), facing stricter liquidity rules post-DDEP, whereas MFIs have lighter requirements but higher NPL risks from unsecured micro-loans, as seen in 2023 sector reports.