Consolidated Bank Ghana (CBG) has assured its customers that the suspension of its foreign exchange license will not disrupt its core banking services.
Despite the Bank of Ghana (BoG) imposing a one-month suspension starting November 26 due to multiple violations of market regulations, CBG emphasized that all branches and digital platforms will remain operational for regular banking transactions.
In a statement, CBG confirmed that while foreign exchange services are temporarily halted, all other banking services will continue uninterrupted.
The bank expressed its intent to engage with the BoG to have its forex license restored 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.
We fully expect to restore foreign exchange products after our engagement with the Bank of Ghana,” the statement read.
CBG apologized for any inconvenience caused and reiterated its commitment to maintaining high operational compliance standards.
The BoG has stated that the license will be reinstated after the one-month period, provided CBG implements necessary controls to comply with forex market regulations. The Central Bank also urged all forex market participants to adhere strictly to the applicable regulations.
