Accra, Mar 4, GNA – The Bank of Ghana (BoG) has announced its suspension of the Foreign Exchange Trading Licences of Guarantee Trust Bank Ghana Limited and FBNBank Ghana Limited for one month, over breaches of the central bank’s foreign exchange market regulations.
The suspensions, which take effect from March 18, 2024, are “in accordance with Section 11(2) of the Foreign Exchange Act 2006, Act 723”, BoG said in a statement released Monday, March 4, 2024.
“The licence will be restored at the end of the one-month suspension period once the Bank of Ghana is satisfied that they have put in place effective controls to ensure strict adherence to the foreign exchange market regulations”, it said.
BoG cautioned foreign exchange market players to adhere strictly to the applicable forex market regulations and guidelines.
GNA
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