The Bank of Ghana has issued new guidelines for the operation of vostro accounts and non-resident margin accounts.

This supersedes guidelines for the operation of vostro accounts by non-resident banks, issued on 5th March 2026.

According to the Central Bank, the guidelines are issued pursuant to the Foreign Exchange Act, 2006 (Act 723) and shall be read together with the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) and all other applicable laws, directives and prudential requirements issued by the Bank.

The objectives of the guidelines are to preserve the integrity and orderly function of the domestic foreign exchange market and to support the monetary operations of the Bank of Ghana; strengthen the functioning of the domestic interbank foreign exchange market; enhance the transparency, auditability, traceability and regulatory oversight of cross-border foreign exchange flows and mitigate the risk of regulatory arbitrage and circumvention of existing foreign exchange controls.

These guidelines shall apply to all resident banks licensed by the Bank of Ghana and all non-resident banks that maintain Vostro Accounts and Non-Resident Margin Accounts with resident banks in Ghana.

Permissible Activities for Vostro Accounts

According to Central Bank, the vostro account shall be used exclusively for investment capital transactions, defined as financial activities involving the inflow, holding, deployment, or repatriation of capital for investment purposes in Ghana.

Permissible Inflows into Vostro Accounts

Thepermissible inflows into Vostro Accounts shall only arise from capital inflows involving the sale of foreign currency to a resident bank, receipt of proceeds from approved Investment capital transactions under Section 3.0 and any other transaction expressly designated by the Bank of Ghana as an investment capital transaction.

Also, the resident bank shall provide 100 percent Ghana cedi cover by crediting the nonresident bank’s Vostro Reserve Account held at the Bank of Ghana.

Permissible Outflows from Vostro Accounts

The permissible outflows from Vostro Accounts shall only arise from the purchase of foreign currency from a resident bank for the repatriation of investment proceeds, purchase of medium‑ to long‑term investments in Ghana, approved in accordance with Section 3.0 of these guidelines and any other transaction designated by the Bank of Ghana as an Investment Capital Transaction.