Bank of Ghana fines Fidelity Bank Ghana and First National Bank

The 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 two banks from 29th June 2023 to 28th July 2023.

The central bank in a statement cautioned forex market players  to adhere strictly to the applicable forex market regulations and guidelines.

“By this notice, we caution 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,” the statement said.

Fines and Suspension of Forex Licences of Fidelity Bank Ghana Limited and First National Bank Ghana Limited pic.twitter.com/WjGVpIeDme

— Bank of Ghana (@thebankofghana) June 29, 2023

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