Bank of Ghana Revises Licence Renewal Fee for Foreign Exchange Bureaux
The Bank of Ghana has revised the biennial licence renewal fee for Foreign Exchange Bureaux upwards from GH¢800 to GH¢2,000, effective immediately.
According to the Central Bank, this revision is part of ongoing reforms to strengthen regulatory oversight and ensure the sustainability of operations in the sector.
- All licensed FEBs are required to renew their licences biennially, no later than two months prior to the expiry date of the existing licence.
- This requirement 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 Central Bank urged FEBs to contact the Licensing and Approval Office of the Other Financial Institutions Supervision Department for further clarification.
Author's summary: Bank of Ghana increases licence renewal fee.
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