The Bank of Ghana has given authorisation to nine FX (Foreign Exchange) Brokers to operate on the Ghana Interbank FX market, effective January 01, 2023 to December 31, 2023.
They are Black Star Brokerage, CSL Capital, Fenics MD, ICAP African Brokers Ltd, Obsidian Acherner, Regulus, Sarpong Capital, Savvy Securities and Terika Financial Services Ltd.
The move is to ensure sanity in the FX market which came under severe pressure in 2022.
According to the Bank of Ghana, it reserves the right to delist any authorised FX broker for non-performance or non-compliance with the FX Act and the Interbank FX Market Conduct rules.
It pointed out that an FX broker is to particularly note that “it shall not deal directly with a corporate entity; it shall not also buy or sell foreign exchange for its own account nor hold, borrow or lend foreign exchange to an authorised market participant”.
Latest Stories
-
We’ll cut down imports and boost consumption of local rice and other products – Mahama
2 hours -
Prof Opoku-Agyemang donates to Tamale orphanage to mark her birthday
3 hours -
Don’t call re-painted old schools brand new infrastructure – Prof Opoku-Agyemang tells gov’t
3 hours -
Sunon Asogli plant will be back on stream in a few weeks – ECG
3 hours -
ECOWAS deploys observers for Dec. 7 election
4 hours -
73 officers commissioned into Ghana Armed Forces
4 hours -
Impending shutdown of three power plants won’t happen – ECG MD
4 hours -
Ghana shouldn’t have experienced any ‘dumsor’ after 2017 – IES Boss
4 hours -
Lamens flouted some food safety laws in re-bagging rice – Former FDA Boss Alhaji Hudu Mogtari
5 hours -
Afcon exit: Our issue is administrative failure and mismanagement, not lack of talent – Saddick Adams
5 hours -
WAPCo to commence major pipeline maintenance and inspection from November 25
5 hours -
CEO of Oro Oil Ghana Limited Maxwell Commey listed among the 100 Most Influential People Awards, 2024
6 hours -
Power crisis: Amandi is off due to maintenance, not debt – ECG Boss
6 hours -
Votes cast for late Akua Donkor to be declared invalid – Electoral Commission
6 hours -
You can’t keep “incompetent” Otto Addo for the long term – Countryman Songo
6 hours