{"id":250920,"date":"2024-11-14T15:40:27","date_gmt":"2024-11-14T15:40:27","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/14\/well-work-with-bog-to-comply-with-foreign-exchange-trading-regulations-cbg\/"},"modified":"2024-11-14T15:40:27","modified_gmt":"2024-11-14T15:40:27","slug":"well-work-with-bog-to-comply-with-foreign-exchange-trading-regulations-cbg","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/14\/well-work-with-bog-to-comply-with-foreign-exchange-trading-regulations-cbg\/","title":{"rendered":"We\u2019ll work with BoG to comply with foreign exchange trading regulations \u2013 CBG"},"content":{"rendered":"<p><\/p>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">The Consolidated Bank Ghana (CBG) has expressed its commitment to work closely with the Bank of Ghana to restore its temporarily suspended foreign exchange trading license.<\/p>\n<p>\u201cWe believe the concerns raised in the notice can be swiftly resolved and are committed to working closely with the Bank of Ghana to ensure compliance,\u201d the CBG said in a statement issued to the Ghana News Agency on Thursday.<\/p>\n<p>The CBG stated: \u201cWe want to reassure our valued customers that this suspension does not impact CBG\u2019s normal banking operations. Except for foreign exchange products and services, all our branches and digital platforms will continue providing customers with our full range of services.<\/p>\n<p>\u201cWe fully expect to restore foreign exchange products after our engagement with the Bank of Ghana or on expiry of the suspension period.\u201d<\/p>\n<p>\u201cWe apologise unreservedly for any inconvenience this situation may have caused and reaffirm our dedication to maintaining the highest standards of operational compliance across all aspects of our business.\u201d<\/p>\n<p>The CBG added that it valued its stakeholders and remained committed to providing them with \u201ca simple, secure and differentiated banking experience\u201d.<\/p>\n<p>The Central Bank is suspending the foreign exchange trading license of the Consolidated Bank Ghana with effect from 26th November 2024 for one month over some breaches with section 11(2) of the Foreign Exchange Act, 2006 (Act 723).<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Consolidated Bank Ghana (CBG) has expressed its commitment to work closely with the Bank of Ghana to restore its temporarily suspended foreign exchange trading license. \u201cWe believe the concerns raised in the notice can be swiftly resolved and are committed to working closely with the Bank of Ghana to ensure compliance,\u201d the CBG said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":249787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-250920","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - 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