Consolidated Bank Ghana (CBG) has assured its customers that the suspension of its foreign exchange license will not disrupt its core banking operations.

The bank confirmed that all branches and digital platforms remain fully operational, calling on customers to remain calm.

The Bank of Ghana (BoG) has imposed a one-month suspension of CBG’s foreign exchange license, effective November 26, due to multiple violations of market regulations.

In a statement, CBG assured its customers that it was working closely with the BoG to resolve the issues and aimed to reinstate the license by the end of the suspension period.

“We would like to reassure our valued customers that this suspension has no impact on CBG’s normal banking operations. With the exception of foreign exchange products and services, all of our branches and digital platforms will continue to offer our customers our full range of services. We fully expect to reinstate foreign exchange products following our engagement with the Bank of Ghana,” the statement said.

CBG apologized to its customers for any inconvenience caused by the suspension, adding that it is committed to maintaining the highest standards of operational compliance.

The Central Bank announced that the license would be reinstated at the end of the one-month suspension period, provided that the CBG implements effective controls to ensure strict compliance with foreign exchange market regulations.

The BoG has warned all participants in the foreign exchange market to strictly adhere to the regulations and guidelines applicable to the foreign exchange market.