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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Bank of Ghana has directed commercial banks, with immediate effect, to halt the payment of foreign currency cash to large corporates if such payments are not backed by deposits.
According to the Bank of Ghana, commercial banks can only proceed with such transactions if they are “fully supported by equivalent foreign cash deposits lodged by the same institution at the Bank.”
The directive was contained in a notice issued by the Bank of Ghana on August 20, 2025, to commercial banks and the general public.
Source: newsthemegh.com