Ghana's Central Bank Suspends Forex Licenses of Guaranty Trust Bank and FBN Bank Over Regulatory Breaches 🇬🇭

Ghana's Central Bank Suspends Forex Licenses of Guaranty Trust Bank and FBN Bank Over Regulatory Breaches 🇬🇭

#finance
#banking
#government
#finance
#banking
#legal
Ghana's Central Bank takes decisive action, suspending the foreign exchange licenses of Guaranty Trust Bank and FBN Bank for one month, citing various regulatory breaches. The move underscores the country's commitment to enforcing forex market regulations and ensuring financial institutions adhere to strict guidelines.

The affected banks are accused of submitting fraudulent documentation in their forex operations, leading to the suspension, effective March 18. Guaranty Trust Bank reassures customers that the impact is limited to its foreign exchange segment, actively collaborating with the Bank of Ghana to address the issues promptly. 🌐💼 


#ForexRegulation #BankingNews #GhanaFinance


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