FBNBank Ghana has affirmed its collaboration with the Bank of Ghana to identify and rectify the issues that led to the suspension of its forex trading license by the central bank.

On Monday, the Bank of Ghana announced the suspension of the Foreign Exchange Trading Licenses of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN), effective from March 18, 2024, for a duration of one month, as per section 11 (2) of the Foreign Exchange Act 2006 (Act 723).

The Central Bank, in a statement, clarified that the decision was prompted by various violations of foreign exchange market regulations, including fraudulent documentation in their foreign exchange operations.

In response, FBNBank Ghana released a statement on March 5, 2024, reiterating its commitment to maintaining high ethical standards.

The bank also assured its customers that during the suspension period, its other business segments and solutions would remain fully operational.

This encompasses branch operations, agent banking partners, and various channels to ensure seamless banking services.