Ghana’s Central Bank Suspends Forex Licences of Two Banks

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On March 4, 2024, the Bank of Ghana announced the suspension of the forex licences of Th Guarantee Trust Bank Ghana Limited and FBNBank Ghana Limited.

 

The suspension comes as a response to breaches of foreign exchange market regulations, including fraudulent documentation in their forex operations.

 

The Central Bank stated that the licences would be restored after one month, pending implementation of effective controls to ensure strict adherence to the regulations.

 

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