Forex Bureau directives must be properly implemented

Dr Ernest Addison NewBank of Ghana Governor, Ernest Addison

Some financial observers are warning that many Ghanaians will be pushed to trade with black market operators if the Bank of Ghana’s directives on foreign exchange trading are not properly implemented.

According to them, in as much as the directive seeks to further formalize the financial space, a proper monitoring and enforcement system needs to be put in place to ensure well regulated foreign exchange regime.

That Bank of Ghana has issued a directive to Forex Bureau operators which among other things require that people show their ID cards before they can change the cedi to dollar.

The following report has more.

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