BoG suspends forex licenses of Fidelity Bank Ghana and First National Bank Ghana

The Bank of Ghana has suspended the Forex Licenses of Fidelity Bank Ghana and First National Bank Ghana effective June 29, 2023 to July 28, 2023.

A statement issued by the Central Bank said the two commercial banks Fidelity and First National Bank have also been fined a combined 1,000 penalty points for breaching sections 3. 4, 3.5 and 3.9 of the Ghana Interbank Forex Market Conduct rules.

The BoG further cautioned forex markets players which included banks, forex bureaus, forex brokers and money transfers operators (MTO) to strictly adhere to the applicable forex market regulations and guidelines.

Read the full statement below:



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