ADVERTISEMENT
ADVERTISEMENT

Bank of Ghana issues licenses to 6 firms to undertake FX Brokerage business

The Bank of Ghana (BoG) has given licences to six companies to participate in the FX Brokerage Business in the country.

The Bank of Ghana

The 6 firms that have gained approval will join other commercial banks that have the license to trade on behalf of their clients when it comes to participating in the Foreign Exchange Market. 

Names of the six companies

Based on the notice issued by the Bank of Ghana these are the six companies;

1. ICAP FX Global

ADVERTISEMENT

2. ICAP Plc

3. Obsidian Achemer

4. Fenics MD

5. Emerging Africa Ltd.

6. Cougar

ADVERTISEMENT

What informed these licenses by the Bank of Ghana?

According to Section 3.13.1 of the Ghana Interbank Forex Market Conduct: “Local and International FX Brokers who want to operate in Ghana's forex market are required to obtain prior approval from the Bank of Ghana at the beginning of every calendar year. The Bank of Ghana shall publish a list of approved Local and International FX Brokers on its website.”

Recently, the BoG reminded the public that it would only allow firms and banks that are licensed to participate in the Foreign Exchange Market.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

7 do's and don’ts of the Holy month of Ramadan

7 do's and don’ts of the Holy month of Ramadan

Top 5 sweetest celebrity mother-child relationships that stand out for us

Top 5 sweetest celebrity mother-child relationships that stand out for us

International Women's Day: 5 Nigerian female celebrities championing women’s rights

International Women's Day: 5 Nigerian female celebrities championing women’s rights

Top 5 female directors in Nollywood

Top 5 female directors in Nollywood

6 things that will break a Muslim's fast during Ramadan

6 things that will break a Muslim's fast during Ramadan

5 benefits of fasting during Ramadan

5 benefits of fasting during Ramadan

Dos and don’ts of supporting Muslims during Ramadan

Dos and don’ts of supporting Muslims during Ramadan

5 young women who embody Y2K and alte fashion

5 young women who embody Y2K and alte fashion

How March became women's history month

How March became women's history month

ADVERTISEMENT
ADVERTISEMENT