BoG tightens rules on forex bureaus, orders reporting of large currency deals
11th January 2026
The Bank of Ghana has introduced stricter reporting requirements for foreign exchange bureaus, directing them to notify the Financial Intelligence Centre (FIC) of all currency transactions valued at GH¢20,000 or more, or their foreign currency equivalent.
Under the new Anti-Money Laundering and Counter-Terrorism Financing Guidelines for Forex Bureaus, 2025, all such transactions must be reported, and both management and staff are barred from informing customers that a report has been filed.
The guidelines also mandate forex bureaus to thoroughly screen every customer before conducting any transaction.
They are prohibited from doing business with individuals or entities listed under international and domestic sanctions regimes, including those designated by the United Nations Security Council, OFAC, the European Union, the United Kingdom’s Treasury, the African Union, ECOWAS, or any competent regulatory authority in Ghana.
In addition, forex operators are required to adopt a risk-based approach to identifying and managing risks linked to money laundering, terrorism financing, and proliferation financing.
They must establish internal policies that clearly outline compliance procedures and penalties for breaches of anti-money laundering and counter-terrorism financing rules.
The central bank says the new framework is designed to strengthen oversight and protect the financial system, urging forex bureaus to foster a strong culture of compliance as part of their daily operations.