Bank of Ghana has fined Fidelity Bank Ghana Limited and First National Bank Ghana Limited a combined 1000 penalty points each for breaching sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules.
In addition, the Bank has suspended the respective forex licences of the above-mentioned banks from 29th June 2023 to 28th July 2023.
The central bank also cautioned forex market players including banks, forex bureaus, forex brokers, and money transfer operators (MTOS) to adhere strictly to the applicable forex market regulations and guidelines.