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07.06.2019 Business & Finance

BoG Clears Barclays Bank

BoG Clears Barclays Bank
JUN 7, 2019 BUSINESS & FINANCE

The forex issue of with Barclays bank has been resolved and is now in good standing, according to Bank of Ghana (BoG) statement.

A statement issued by BoG said, “On Monday June 3, 2019, the Bank of Ghana issued a press release on the misconduct in the foreign exchange market by Barclays Bank Ghana Limited. The Bank of Ghana has since engaged Barclays Bank Ghana Ltd and the matter has now been resolved."

It continued, “The Bank of Ghana would want to remind the general public that this action does not suggest Barclays Bank Ghana Ltd. is not in good standing. The Bank of Ghana would also like to assure the general public that Barclays Bank Ghana Ltd. is solvent, well-capitalized and remains in good standing."

It would be recall that, the BoG recently fined Barclays Bank Ghana GH¢4,579,256.36 for frivolous quotes on Ghana’s Interbank Foreign Exchange Market.

According the Central Bank on its June 3 statement, the action was in breach of the Ghana Interbank Forex Market Conduct Rules.

FULL STATEMENT

PRESS RELEASE

BANK OF GHANA ASSURES THE GENERAL PUBLIC THAT BARCLAYS BANK GHANA LIMITED IS IN GOOD STANDING

On Monday June 3, 2019, the Bank of Ghana issued a press release on the misconduct in the foreign exchange market by Barclays Bank Ghana Limited.

The Bank of Ghana has since engaged Barclays Bank Ghana Ltd and the matter has now been resolved.

The Bank of Ghana would want to remind the general public that this action does not suggest Barclays Bank Ghana Ltd. is not in good standing.

The Bank of Ghana would also like to assure the general public that Barclays Bank Ghana Ltd. is solvent, well-capitalized and remains in good standing.

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