The Bank of Ghana has fined Fidelity Bank Ghana Limited and First National Bank Ghana Limited a combined 1000 penalty points each for breaching sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules.
In addition, the Central Bank has suspended the respective forex licences of Fidelity Bank Ghana Limited and First National Bank Ghana Limited from 29 June 2023 to 28th July 2023.
The Bog has therefore cautioned forex market players to adhere strictly to the applicable forex market regulations and guidelines.
“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,” it stated.
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Ghana | Atinkaonline.com | Porcia Oforiwaa Ofori