As part of the Bank of Ghana’s (BoG) objective to ensure the integrity and development of the financial system, it has launched a centralised foreign exchange trading platform to check various forex in the country.
BoG, in a statement signed by its secretary, Sandra Thompson, indicated that, all licensed Foreign Exchange Bureaux will be required to use this platform for buying and selling foreign currencies.
“This initiative marks a milestone in the Bank’s efforts to ensure safe and sound operations of the foreign exchange business.”
“The platform will improve oversight for Directors and Management of bureaux and enhance the Bank’s monitoring and supervision of their operations in compliance with the Foreign Exchange Act, 2006 (Act 723) and the Anti-Money Laundering Act, (Act 1044), as amended, and other relevant notices and enactments”, portion of the release stated.
BoG further noted that, all transactions of foreign currencies will be conducted at Bank of Ghana licensed foreign currencies dealers, which include licensed Foreign Exchange Bureaux, while, foreign Exchange Bureaux transactions shall be conducted on the new trading platform.
Meanwhile the platform according to the central bank will be operational form August 1, 2024.
READ STATEMENT FROM BANK OF GHANA BELOW:
