By Sheila WILLIAMS
The Bank of Ghana has fined the Barclays Bank of Ghana an amount of Ghc4, 579,256.36 for making frivolous quotes of Ghana’s Interbank Foreign Exchange Market.
This action taken is in breach of the Ghana Interbank Forex Market Conduct Rules.
In a press statement issued by theBank of Ghana, the Central Bank is committed to ensuring sanity, transparency and promoting best practices that serves to develop and deepen the Forex 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 “.
Below is the full press release statement from the Central Bank of Ghana
