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 from GH¢800 to GH¢2,000, effective immediately.
This revision is part of ongoing reforms to strengthen regulatory oversight and ensure sustainability in the sector. According to the Bank of Ghana, all licensed FEBs must renew their licences biennially, no later than two months prior to the expiry date of the existing licence, as per Section 10 of the Foreign Exchange Act, 2006 (Act 723) and Paragraph 8 of Bank of Ghana Notice No. BG/GOV/SEC/2003/2.
The Central Bank advises FEBs to contact the Licensing and Approval Office of the Other Financial Institutions Supervision Department for further clarification.
The revision applies to all licensed FEBs and is effective immediately.
Author's summary: Bank of Ghana increases licence renewal fee.
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