BoG directs all Forex Bureaux to check Ghana Card during transactions effective August 1

The Bank of Ghana (BoG) announced that starting August 1, 2024, all licensed Foreign Exchange Bureaux must require the Ghana Card for transactions.

This follows the launch of a centralised foreign exchange trading platform aimed at enhancing the financial system's integrity.

The platform mandates that all transactions be conducted on it, with electronic receipts issued and customer identity verified using the Ghana Card or passport for foreigners.

The initiative, integrated with the National Identification System and national payment platform, aims to improve oversight and compliance with relevant laws, ensuring safe and sound foreign exchange operations.