Ghana Card mandatory for all foreign currency transactions effective August 1 – BoG

The Bank of Ghana has mandated the use of the Ghana Card for all foreign currency transactions.

"All persons seeking to buy or sell foreign currencies must provide a Ghana Card or Passport (for Foreign Nationals) and undergo biometric verification,” the BoG said in a statement.

To ensure compliance, the platform for these transactions has been integrated with the National Identification System, guaranteeing that all purchases and sales of foreign currencies are conducted by verified individuals.

The platform will also be linked with the national payment system to facilitate electronic payments and the receipt of Ghana Cedis for foreign currency transactions at bureaux.

The BoG reminded the public that: “The buying and selling of foreign currencies shall only be conducted with Bank of Ghana licensed foreign currencies dealers.”