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The Bank of Ghana has announced an upward adjustment in the biennial licence renewal fee for all licensed Foreign Exchange Bureaux (FEBs). They will now be paying GH¢2,000.00, the Central Bank announced in a statement. This takes immediate effect and applies to all licensed FEBs. It explained that the revision is part of ongoing reforms to strengthen the regulatory oversight of the Bank of Ghana and to ensure the sustainability of operations in the sector. It reminded all FEBs to renew their licences biennially, no later than two (2) months prior to the expiry date of the existing licence, in accordance with Section 10 of the Foreign Exchange Act, 2006 (Act 723) and Paragraph 8 of Bank of Ghana Notice No. BG/GOV/SEC/2003/2 under the Revised Forex Bureau Regulations. “For further information or clarification, please contact the Licensing and Approval Office of the Other Financial Institutions Supervision Department of the Bank of Ghana, on telephone number (+23330-2739630/665700), or by email address (ofisdletters@bog.gov.gh) or visit the Bank’s website.” Story by Hajara Fuseini
