The Bank of Ghana has increased the biennial licence renewal fee for all licensed foreign exchange bureaux.
A statement issued by the Central Bank announced that the licence fee has been increased from GH¢800 to GH¢2,000, a 150 percent increase.
The bank explained that the increment forms part of ongoing regulatory reforms aimed at strengthening oversight and ensuring the long-term sustainability of the foreign exchange sector.
It stated that the increase takes immediate effect and applies to all licensed operators.
Meanwhile, the BoG has admonished all foreign exchange bureaux to renew their licences no later than two months before expiry, in line with Section 10 of the Foreign Exchange Act, 2006 (Act 723) and Paragraph 8 of Bank of Ghana Notice No. BG/GOV/SEC/2003/2 under the Revised Forex Bureau Regulations.
By: Rainradioonline.com/Ghana
