The Ghana Association of Bankers (GAB) has clarified that banks have not received any official directive from the Bank of Ghana (BoG) to suspend over-the-counter foreign currency withdrawals.
This statement comes in response to recent remarks by BoG Board Member, Dr.
Isaac Adongo, who suggested this restriction during an interview on JoyNews' PM Express.
The GAB Chief Executive, John Awuah, said he "can say on authority that as a community of banks, we do not have any directive that bars over-the-counter withdrawal of USD or any foreign currency." Mr Awuah stated that banks only act on formal BoG directives, not individual board members' comments. "And another point I want to make is we need to be very careful here, and with all due respect to the board member who spoke, Dr Isaac Adongo, that as banks, we do not take instructions from individual board directors or Bank of Ghana, never.
