BoG fines Barclays Bank GHc4.579million for frivolous quotes - BusinessGhana

BoG fines Barclays Bank GHc4.579million for frivolous quotes

6th Jun 2019 | Source: GNA

The Bank of Ghana has fined the Barclays Bank of Ghana more than GH¢4.579million for making frivolous quotes on Ghana's Interbank Foreign Exchange (FX) Market.

A statement issued by the Central Bank said the action was in breach of the Ghana Interbank Forex Market Conduct Rules.

It said the Bank of Ghana was committed to ensuring sanity, transparency and promoting best practices that serve to develop and deepen the FX market in Ghana.

"In pursuit of the above goals, the Bank of Ghana will not hesitate to sanction any market participant whose actions contravene Ghana's Interbank FX Market Conduct Rules," the statement added.

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