The Bank of Ghana (BoG) has announced an upward revision of the biennial licence renewal fee for all licensed Foreign Exchange Bureaux (FEBs) across the country, increasing the amount from GH¢800 to GH¢2,000.
According to a statement, the revision forms part of ongoing reforms aimed at strengthening the Bank’s regulatory oversight and ensuring the sustainability of operations within the foreign exchange sector.
“The revision is part of ongoing reforms to strengthen the regulatory oversight of the Bank of Ghana and to ensure sustainability of operations in the sector,” the statement said.
The new fee takes immediate effect and applies to all licensed FEBs nationwide.
The Central Bank reminded operators that all Foreign Exchange Bureaux are required to renew their licences biennially, no later than two months before the expiry date of their existing licence.
This requirement, the statement explained, is in accordance 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.
The Bank also encouraged operators seeking clarification or further information to contact the Licensing and Approval Office of the Other Financial Institutions Supervision Department of the Bank of Ghana
