Fidelity Bank Ghana says it is actively addressing the issues highlighted by the Bank of Ghana (BoG) which has resulted in the temporary suspension of its Foreign Exchange trading license.
The bank in a statement said it is highly committed to upholding stringent operational compliance standards in all aspects of its operations and further assured its esteemed customers that they (Fidelity) will be actively involved in discussions with the Bank of Ghana to promptly resolve the matter at hand.
“As a Bank, we strive to maintain the highest levels of operational compliance across all our business activities, and we reassure all our valued customers that we are actively engaging the Bank of Ghana to resolve the issue as soon as possible,” it said.
Fidelity Bank, in a statement released to the press, stated that its regular operations remained unaffected by the regulatory penalty.
According to a statement signed by Eric Frempong Amponsah, Head of Marketing, Fidelity Bank the Bank has entered into a temporary agreement with its partner banks to facilitate the smooth execution of foreign exchange transactions.
“All Branches, Agent Points and digital platforms continue to provide our customers with the full range of financial services as usual,” it said
It apologised to its customers for the inconvenience caused them following the regulator’s punishment.
The Central Bank Thursday announced that it had fined the First National Bank Ghana Ltd. and Fidelity Bank Ghana Limited a combined 1000 penalty points each for breaching sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules.
Additionally, their forex trading had been suspended for one month, effective June 29.