Bank of Ghana Slaps GH¢4.5 Million Fine on Barclays Bank  

Managing Director of Barclays Bank Ghana, Ms Abena Osei-Poku

Accra, Ghana, June 3, 2019//-The Bank of Ghana has fined the Barclays Bank of Ghana an amount of GH¢4,579,256.36 for making frivolous quotes on Ghana’s Interbank Foreign Exchange Market.

This action is in breach of the Ghana Interbank Forex Market Conduct Rules.

The Bank of Ghana is committed to ensuring sanity, transparency and promoting best practices that serve to develop and deepen the FX market in Ghana.

In pursuit of the above goals, the Bank of Ghana will not hesitate to sanction any market participant whose actions contravene Ghana’s Interbank FX Market Conduct Rules, according to a statement issued by the central bank.

African Eye Report

 

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