Trade Advocacy Group Ghana (TAGG), has advised it’s members to desist from transferring monies to suppliers based in China through unapproved methods.
According to TAGG, traders who continually send monies to companies in China through methods not approved by the BoG will have their monies locked up in Chinese banks and eventually lose them.
“We the Executives of TAGG would like to use this medium to create awareness for all traders who deal with go-between Agents whose personal banking details are used to receive huge sums of monies from traders through unapproved methods to desist from doing so when transferring or sending monies to China,” said the Group via a press release on Monday.
“TAGG has received numerous complaints from traders who have had their monies locked-up in various banks in China such as the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China among others,” an exceprt of the press statement read.
The Group has advised all importers in the country to be mindful of the new development and use the approved structures set up by the Central Bank.
It further noted that travelling to China has become difficult and as such TAGG or a trader cannot pursue the matter if he or she falls victim.
Read details of press release below:
