Prime News Ghana

See the 9 institutions authorised by BoG to serve as FX brokers

By Vincent Ashitey
facebook sharing button Share
twitter sharing button Tweet
email sharing button Email
sharethis sharing button Share

The Bank of Ghana (BoG) has authorised 9 institutions to serve as Foreign Exchange (FX) Brokers.

They are Black Star brokerage, CSI, Capital, Fenics MD, ICAP African brokers limited, Obsidian Acherner, Regulus, Sarpong Capital, Savvy Securities and Terika financial services limited.

The BoG in a statement said the authorisation takes effect from 1 January 2023 to 31 December 2023.

The statement said the BOG reserved the right to delist any authorised FX broker for non-performance or non-compliance with FX Act and the Interbank FX Market Conduct rules.

According to the statement an FX broker is to particularly note that “it shall not deal directly with a corporate entity; it shall not also buy or sell foreign exchange for its own account nor hold, borrow or lend foreign exchange to an authorised market participant.”