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The Bank of Ghana (BoG) yesterday closed down two forex bureaux on the airport metropolis for flouting the forex exchange rules.
The bureaus are the Airportcity Bureau Forex Limited and Trade House Forex Bureau Limited.
This was after the BoG revoked the licences of the organisation.
Mr Yaw Sapong, Head of different Financial (*2*) Supervision Department of the Bank of Ghana (BoG), mentioned the transfer shaped a part of measures to stem the depreciation of the Cedi and restore public confidence within the economic system.
According to him, the 2 forex bureaux beneath the identical possession, had persistently flouted the international exchange rules.
The rules, he talked about, failure to problem digital receipts, taking the document particulars of consumers and displacing the forex charges.
He mentioned the operations of the 2 bureaux had been detrimental to the forex Bureau scheme and the Ghanaian economic system.
Mr Sapong mentioned the thriller purchasing the BoG did in latest weeks indicated that the 2 bureaus weren’t going by the rules.
“The method they function and set their pricing is detrimental to the Ghanaian economic system and we now have no choice than to revoke the licences of the 2 corporations,” Mr Sapong, mentioned.
He mentioned the BoG has had a number of engagements with the proprietor of the 2 bureaux, however he had refused to go by the international exchange rules.
“We simply final month engaged with the proprietor of the Airport City Forex Bureau Limited and the Trade House Forex Limited to go by the forex exchange rules, however he has didn’t go by it,” Mr Sapong, mentioned.
The Head of Other Banking Supervision Department of the BoG urged the general public to ignore rumours in sections of the media that individuals who had {dollars} within the financial institution can be pressured to take Cedis.
Asked whether or not the 2 forex bureaux may reapply for their licences to be restored if the infractions had been corrected, Sapong responded that “in our evaluation trying on the method the forex bureausx have operated will probably be troublesome for the shareholders to qualify for a licence.”
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