Business News of 2014-02-08

Bank of Ghana introduces additional measures

The Bank of Ghana, (BoG) has announced additional operating measures for all licensed Forex bureaux.

A statement in Accra by Mrs Caroline Otoo, Secretary, BoG said all operators should computerised their operations by adopting the certified software approved by the Bank by April 30.

It said they should issue electronic receipts for all transactions in the format prescribed by the Bank and added that the issuing of manual receipts should cease after April 30.

The statement said the Forex bureau operators should submit the required monthly returns electronically to the Bank within five working days after the end of the month.

"All Forex bureau should not sell or buy more than US$ 10, 000 or its equivalent per transaction, the statement said.

“Failure to comply with this notice shall attract penalties,” it added