The CBG has successfully restored all of its foreign exchange services at its branches.
Recall that in November 2024, in compliance with section 11(2) of the Foreign Exchange Act, 2006 (Act 723), the Bank of Ghana suspended CBG’s Foreign Exchange Trading Licence for a duration of one (1) month.
The BoG claims that it was caused by several violations of the rules governing the foreign currency market, among other things.
The BoG declared that after it was satisfied that CBG had implemented efficient measures to guarantee rigorous adherence to the foreign exchange market regulations, the license would be reinstated at the conclusion of the one-month suspension term.
Customers can now access CBG’s full range of foreign exchange services, including buying and selling foreign currencies, at all CBG branches across the country, the bank said in a statement after its foreign exchange trading license was restored.
“Over the past weeks, we have worked closely with the regulator, to address all regulatory requirements, resulting in the restoration of our foreign currency trading licence. Customers can now access our comprehensive foreign exchange services, including buying and selling of foreign currencies, at all CBG branches nationwide,” CBG statement read.
In the meanwhile, CBG said it sincerely appreciates the patience and ongoing faith of its loyal clients and apologizes for any inconveniences the suspension may have caused.
“At CBG, we value all our stakeholders and remain committed to providing our cherished customers with simple, secure and differentiated banking experience, while ensuring regulatory compliance,” CBG added.
Source: newsthemegh.com