First National Bank

25 Jul

BoG Restores Forex Licenses Of Fidelity Bank And First National Bank – Governor

wontumionlineBusinessBoG, Fidelity Bank, First National Bank

Governor of the Central Bank, Dr Ernest Addison says it has restored the forex licenses of Fidelity Bank Ghana and First National Bank Ghana. This comes after the two financial institutions breached certain sections of the Ghana Interbank Forex Market Conduct rules. In a statement issued by the Bank in late June this year, Fidelity Bank and First National Bank were fined a combined 1,000 penalty points each for breaching sections 3. 4, 3.5 and 3.9 of the Ghana Interbank Forex Market Conduct rules. In the wake of this, the two banks were temporarily barred from forex trading activity effective June 29…

12 Jan

First National Bank Collaborates With Payment Partners To Resolve Transaction Debit Issues

wontumionlineBusinessFirst National Bank

First National Bank is collaborating with its international payment partners to resolve transactional differentials on some accounts. About a week ago, First National Bank embarked on an exercise to resolve and reconcile debit card transactions carried out in December 2022 and early January 2023. This exercise required some exchange rate adjustments to customer balances with subsequent debits for transactions done on binance.com, a cryptocurrency exchange. “We have received a number of complaints about the foreign exchange adjustments and their effects on account balances involved. We have subsequently been in talks with our payment gateway partners to address concerns raised on…