The Bank of Ghana has clarified that over-the-counter (OTC) cash withdrawals in foreign currency from Foreign Exchange Accounts (FEA) and Foreign Currency Accounts are allowed.
The central bank, in a statement, explained that for non-FEA and non-FCA account holders , forex purchases for travel outside Ghana are allowed but capped at US$10,000 or its equivalent per person per trip.
The statement explained that this must be supported by a valid passport, visa, and confirmed travel ticket as indicated in the notice issued by the bank, BOG Notice No. BG/GOV/SEC/2014/09.
The statement added that cheques and cheque books may be issued on FEA and FCA accounts.
The BoG emphasised that it has not contemplated reviving these existing measures. All banks and the public are advised to take note and comply accordingly.”
By: Rainbowradioonline.com/Ghana
