The Bank of Ghana has an overall supervisory and regulatory authority in all matters relating to banking and non-banking financial business. Find out more about it. Register of Licensed Institutions. This is a comprehensive database of all the licensed Banks, Rural & Community Banks, Non-Bank Financial Institutions, Forex Bureaux & Microfinance Institutions. Complaints Procedures. You may ... The Bank of Ghana (BoG) unveiled the measures last Friday following a public outcry over the banning of commercial banks and other financial houses from issuing cheques and cheque books for foreign currency accounts holders. The earlier measures limited access to foreign exchange and restricted local trade transactions to the cedi . BoG had also directed that no bank should grant a foreign ... The Bank of Ghana has introduced new foreign exchange rules that will from July 1 this year require exporters to repatriate all export proceeds to the country, altering several forex requirements ... It is seen as part of ongoing reforms to also bring forex trading in the country to best international practices to best international practices. However, some people have argued that it is part of measures that the Bank of Ghana is looking at to help deal with the perennial sharp depreciation of the Ghana cedi. These rules may be cited as Ghana Interbank Forex Market Conduct. 1.2 Legal Basis . These rules are issued by BoG under sections 17 and 31 of the FX Act 2006 (Act 723) 1.3 Application . These rules are issued under Section 92(1) of the Banks Specialised Deposit-Taking and Institutions Act, 2016 (Act 930), the Foreign Exchange Act, 2006 (Act 723) and accompanying operational guidelines. It ... The Bank of Ghana continued to monitor the measures and having observed some implementation challenges and following further consultations, has decided to revise the rules on foreign exchange ... The Bank of Ghana has announced a new set of directives to guide operations of Forex Bureau operations in the country. Why According to the Bank of Ghana, the move is part of measures to enforce ... The Bank of Ghana has announced a new set of directives to guide operations of Forex Bureau operations in the country. Why According to the Bank of Ghana, the move is part of measures to enforce compliance by all licensed Forex Bureaux with the Forex Bureau Regulations issued in accordance with the Foreign Exchange Act, 2006 (Act 723), and the provisions of the Anti-Money Laundering Act, 2008 ... The Bank of Ghana announced today, June 3, 2019 that it has sanctioned Barclays Bank of Ghana for breaching the country’s Interbank Foreign Exchange Market Conduct Rules. The central bank in a statement copied to ghanabusinessnews.com says it has fined Barclays Bank GH¢4,579,256.36 for making frivolous quotes on the country’s Interbank Forex Market. “This action is in breach of the ... The Bank of Ghana, BoG has fined Barclays Bank Ghana an amount of GH¢4.6 million for making “frivolous” quotes on Ghana’s Interbank Foreign Exchange Market. A press statement issued by the Bank of Ghana said Barclays’ action is in breach of the Ghana Interbank Forex Market Conduct Rules.
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