Banking and FinanceHeadline

BoG revokes license of two popular forex bureaux in Accra

1 Mins read

BoG revokes license of two popular forex bureaux in Accra

BoG revokes license of two popular forex bureaux in Accra

The Bank of Ghana has revoked the license of the Airport City Forex Bureau within the Atlantic Tower building and Trade House Forex Bureau Ltd, a popular forex bureau at the Marina Mall.

The closure follows the failure of the operators to issue receipts and the breaching of Foreign Exchange laws in the country.

The two forex bureaux are under the same ownership and were detected by a mystery shopping exercise by the central bank.

The Head of Other Financial Institutions Supervision department of the Central Bank, Yaw Sarpong, noted that they were not issuing electronic receipts and not requesting valid proof of identity.

Mr. Sarpong said the “two bureaux on several occasions have been found not to be complying [with the laid down regulations].”

“The way they set their prices are detrimental and we think that the licenses of the two bureaux have to be revoked,” he added.

 

Source: Citinewsroom.com
See also  BoG grants licence for Development Bank Ghana, says Ofori-Atta
Related posts
Headline

Sahara Solace Triumphs Again! Crowned Liqueur of the Year 2023 at Kempinski Hotel

2 Mins read
Sahara Solace Triumphs Again! Crowned Liqueur of the Year 2023 at Kempinski Hotel In the realm of liqueurs, one name consistently rises…
Banking and FinanceBusinessfinanceHow To Spend

Fitch Solutions Predicts Cedi to Dollar Rate of GH¢12.25 by Year-end; Currency Sees 11% Depreciation

1 Mins read
Fitch Solutions Predicts Cedi to Dollar Rate of GH¢12.25 by Year-end; Currency Sees 11% Depreciation Fitch Solutions is forecasting an end-year cedi…
Banking and FinancefinanceHow To SpendStock Market

Cedi Reduces Year-to-Date Loss to Dollar by 7.50% on Retail Market; GH¢13.60 Now Equals One Dollar

1 Mins read
Cedi Reduces Year-to-Date Loss to Dollar by 7.50% on Retail Market; GH¢13.60 Now Equals One Dollar The Ghana cedi narrowed its year-to-date…

Leave a Reply

Your email address will not be published. Required fields are marked *