Fidelity Bank Ghana says banking operations not affected despite forex trading license suspension
Fidelity Bank Ghana has confidently stated that the recent suspension of its Foreign Exchange (forex) trading license will not impede its normal banking operations. The bank swiftly addressed concerns raised by the Bank of Ghana (BoG), highlighting their interim agreements with partner banks to ensure seamless completion of forex transactions on behalf of Fidelity Bank.
Apologizing for any inconvenience caused, the bank reassured its valued customers that all branches, agent points, and digital platforms will continue to offer the full spectrum of financial services without interruption. Fidelity Bank Ghana remains actively engaged with the BoG, actively seeking a prompt resolution to the matter.
Maintaining an unwavering commitment to operational compliance, the bank underscored its dedication to upholding the highest standards across all business activities. Fidelity Bank Ghana expressed its resolve to work closely with the BoG to resolve the situation swiftly and amicably, assuaging any concerns arising from the license suspension.
The temporary suspension of Fidelity Bank Ghana’s forex trading license by the BoG resulted from the bank’s infringement of specific provisions within the Ghana Interbank Forex Market Conduct rules. In addition to the suspension, each bank involved in the breach has incurred a combined penalty of 1,000 penalty points, amounting to GHS 12,000.
Fidelity Bank Ghana’s prompt response is aimed at ensuring the continued trust of its customers while mitigating potential disruptions in its banking services. By establishing interim arrangements with partner banks, the institution seeks to uphold seamless forex transactions for its clientele. As negotiations progress with the BoG, Fidelity Bank Ghana strives to navigate the situation efficiently and restore normalcy in its forex trading operations.
