The Bank of Ghana (BoG) has launched a centralised foreign exchange trading platform to bolster the integrity and growth of the financial system.
The Secretary to the Bank of Ghana, Sandra Thompson announced on July 30 that, starting August 1, 2024, all licensed Foreign Exchange Bureaux must use this platform for their currency transactions.
This initiative, aimed at ensuring the secure and sound operation of foreign exchange activities, will enhance the oversight capabilities of bureau directors and management.
It will also enable the Bank of Ghana to better monitor and supervise compliance with the Foreign Exchange Act, 2006 (Act 723), the Anti-Money Laundering Act (Act 1044), and other relevant regulations.
The BoG emphasised that only dealers licensed by the Bank of Ghana, including licensed Foreign Exchange Bureaux, can conduct foreign currency transactions, and all transactions must occur on the new trading platform.
Read Statement;
