TUE, MAR 05 2024-theGBJournal|Ghana’s apex banking authority, the Bank of Ghana announced on Monday the suspension of Guaranty Trust Bank (GTB) and FBNBank Ghana Limited (FBN), effective 18th March 2024, for a period of one month.
The regulator said in a statement seen by theGBJournal, that the suspension is as a result of various breaches of the foreign exchange market regulations, including fraudulent documentation in their foreign exchange operations which have come to their attention.
According to Bank, ”the licence will be restored at the end of the one-month suspension period once the Bank of Ghana is satisfied that they have put in place effective controls to ensure strict adherence to the foreign exchange market regulations.
It cautioned foreign exchange market players to adhere ”strictly to the applicable forex market regulations and guidelines.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
