Consolidated Bank Ghana (CBG) has reassured customers that the temporary suspension of its foreign exchange license will not impact its main banking services.The bank emphasized that all branches and digital services are fully functional and encouraged customers to remain at ease.The Bank of Ghana (BoG) issued a one-month suspension on CBG’s forex license, starting November 26, citing repeated breaches of market regulations.

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In a statement, CBG noted it is actively collaborating with the BoG to resolve the issues and aims to have its license reinstated by the end of the suspension period.“We want to reassure our valued customers that this suspension does not impact on CBG’s normal banking operations. Except for foreign exchange products and services, all our branches and digital platforms will continue providing customers with our full range of services.

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We fully expect to restore foreign exchange products after our engagement with the Bank of Ghana”, the statement mentioned.CBG expressed regret for any inconvenience resulting from the suspension and reiterated its commitment to maintaining high standards of operational compliance.<img src="

alt="" class="wp-image-727439"/>The Central Bank

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indicated that CBG’s license could be reinstated after the one-month suspension, provided the bank establishes effective controls to ensure compliance with foreign exchange regulations.Additionally, the BoG reminded all participants in the forex market of the necessity to strictly adhere to all relevant regulations and guidelines.

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