BoG statement on OTC withdrawals was timely – Ghana Association of Banks – Nsemkeka
The Ghana Association of Banks has described the statement of the Bank of Ghana as timely, arguing that it has gone a long way in dealing with some disruptions that were developing due to earlier comments on the Over-the-Counter withdrawals.
The Chief Executive Officer, John Awauh, disclosed this in an interview with Business Live on JoyNews.
Mr. Awuah said the banks have also issued a statement to assure all their customers to remain calm.
This is because “May 15, 2025, we observed some unusual movement, which we attribute to the interview granted by the Bank of Ghana board member, Isaac Adongo”.
Urging Calm and Assuring Foreign Currency Depositors
The Chief Executive of the Ghana Association of Banks, John Awuah, urged all foreign currency depositors to remain calm, insisting banks remain committed to facilitating legitimate withdrawals.
“All customers should remain calm and confident in the integrity of the banking system,” Mr. Awuah added.
The Chief Executive of the Association of Banks stressed that “Banks continue to operate within the regulatory framework provided by the Bank of Ghana, and remain committed to facilitating legitimate foreign currency needs of individuals and businesses.”.
“We are therefore assuring that banks in Ghana remain fully committed to upholding the rights of customers with respect to legitimate foreign currency needs of individuals and businesses”, he concluded.