The Bank of Ghana (BoG) has suspended the forex licences of Fidelity Bank Ghana Limited and First National Bank Ghana Limited for a month.
This is effective Thursday, June 29 to July 28, 2023.
Also, the above-mentioned banks have been fined a combined 1000 penalty points each for breaching sections 3.4, 3.5 and 3.9 of the Ghana Interbank Forex market Conduct rules.
This is contained in a statement signed by the secretary of BoG, Sandra Thompson on Thursday, June 29, 2023.
“By this notice, we caution forex market players including banks, forex bureaus, forex brokers, and money transfer operators (MTOs) to adhere strictly to the applicable forex market regulations and guidelines,” a statement from the BoG added.
