Bank of Ghana suspends Forex Licenses of Fidelity Bank and First National Bank

 The Bank of Ghana (BoG) 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.

“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 said.

In addition, the Central Bank has suspended the respective forex licences of the banks from June 29, 2023 to July 28, 2023.

Source: Bank of Ghana

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