COMMERCIAL BANKS IN GHANA TO CLOSE FOREIGN CURRENCY SAVINGS ACCOUNTS – Report

A report from Citi News in Accra indicates that certain commercial banks in Ghana plan to begin shutting down foreign currency savings accounts.

It is anticipated to be completed by July 31, 2024.

The report showed that customers with these accounts are being instructed to transfer their funds to e-wallets or current accounts.

A memo sent to bank customers stated that the goal is to eventually discontinue the account.

Nevertheless, certain clients think that it is an effort to enforce charges and reduce clients’ profits as the cedi depreciates.

The Ghana Association of Bankers has not provided any clarification on the matter, according to the report.