{"id":99075,"date":"2025-10-17T23:25:53","date_gmt":"2025-10-17T23:25:53","guid":{"rendered":"https:\/\/sotnews.agency\/?p=99075"},"modified":"2025-10-17T23:25:53","modified_gmt":"2025-10-17T23:25:53","slug":"bog-reinstates-ubas-foreign-exchange-trading-license","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=99075","title":{"rendered":"BoG reinstates UBA\u2019s foreign exchange trading license"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>1 Minute, 25 Second <\/div>\n\n <\/div>
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The Bank of Ghana has lifted the suspension of the Foreign Exchange trading license of United Bank for Africa (UBA) Ghana limited, effective 19 October 2025.<\/p>\n

A statement from the Central Bank pointed out that the decision follows UBA\u2019s adherence to the suspension conditions imposed and the implementation of remedial measures that have been reviewed and found satisfactory by the Bank.<\/p>\n

It, however, reminded the public\u00a0that it remains committed to maintaining the integrity of the foreign exchange market, adding that\u00a0 \u201call licensed market participants operate in strict compliance with the Foreign Exchange Act, 2006 (Act 723), and all other applicable regulatory guidelines\u201d.<\/p>\n

Background<\/strong><\/p>\n

The Bank of Ghana on September 4 2025, announced the suspension of the foreign exchange trading license of United Bank for Africa (UBA Ghana) effective September 18, 2025. The suspension was for a period of one month in accordance with section 11 (2 ) of the Foreign Exchange Act 2006.<\/p>\n

In a statement, it said the action was as a result of multiple violations of the foreign exchange market regulations.<\/p>\n

This includes \u201cUpdated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Bank of Ghana Notice No. BG\/GOV\/SEC\/2025\/25which has come to the attention of Bank of Ghana\u201d.<\/p>\n

UBA Ghana on Suspension<\/strong><\/p>\n

But UBA in a statement released and copied to Joy Business, assured customers that all deposits, transactions, and funds remain safe despite the suspension of its foreign exchange trading license by the Bank of Ghana (BoG).<\/p>\n

It stressed that it is committed to the \u201cthe highest standards of governance, transparency, and professionalism,\u201d assuring customers they can continue normal banking services with full confidence in the bank\u2019s financial strength and resilience.<\/p>\n<\/div>\n

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\"BoGThe Bank of Ghana has lifted the suspension of the Foreign Exchange trading license of United Bank for Africa (UBA) Ghana limited, effective 19 October 2025. A statement from the Central Bank pointed out that the decision follows UBA\u2019s adherence to the suspension conditions imposed and the implementation of remedial measures that have been reviewed [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1904,2367,12,10196,2208,10,9,3615],"tags":[],"class_list":["post-99075","post","type-post","status-publish","format-standard","hentry","category-banking-and-finance","category-bog","category-business","category-foreign-exchange","category-hp-business-2","category-politics","category-popular","category-uba"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/99075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=99075"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/99075\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=99075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=99075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=99075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}