Consolidated Bank Ghana (CBG) is assuring its customers that the suspension of its foreign exchange licence will not affect the full operations of its banking services.
The Bank says all of its branches and digital platforms are still opened for core transactions, urging the customers to remain calm.
The Bank of Ghana (BOG) has imposed a one month suspension beginning November 26, on the forex licence of CBG over multiple violations of market regulations.
But CBG in a statement assured that it will be engaging the Central Bank as a regulator to get the license restored by end of the expiration of the suspension period.
“We want to reassure our valued customers that this suspension does not impact on CBG’s 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. We fully expect to restore foreign exchange products after our engagement with the Bank of Ghana”, the statement mentioned.
CBG apologized to customers for any inconvenience caused by the suspension, adding that it is committed to maintaining the highest standards of operational compliance.
The Central Bank announced that the licence will be restored at the end of the one-month suspension period, provided that CBG implements effective controls to ensure strict adherence to foreign exchange market regulations.
The BoG cautioned all foreign exchange market participants to comply strictly with the applicable forex market regulations and guidelines.
