By: Alexander Afriyie
Accra, Ghana – May 16, 2025
The Ghana Association of Banks (GAB) has issued a statement assuring customers that banks in Ghana remain committed to upholding their rights to access foreign currency. This assurance comes in response to recent media commentary on over-the-counter (OTC) foreign currency withdrawals in banks.
According to the GAB, the Bank of Ghana has not introduced any new restrictions on foreign exchange accounts (FEA) or foreign currency accounts (FCA). The association emphasized that OTC cash withdrawals in foreign currency from FEA and FCA accounts are allowed, and forex purchases for travel purposes are permissible up to US$10,000 per person per trip, upon provision of a valid passport, visa, and confirmed travel ticket.
The GAB also clarified that cheques and cheque books may continue to be issued on FEA and FCA accounts. The association urged customers to remain calm and confident in the integrity of the banking system, assuring them that banks will continue to operate within the regulatory framework provided by the Bank of Ghana.
“We encourage customers and the general public to contact us or their respective banks for any additional information they may require on this subject matter,” said John Awuah, Chief Executive Officer of the GAB.
The GAB is the country’s leading mouthpiece for the universal banking sector, currently representing the interests of 23 member banks. The association was established on May 29, 1980, and supports policies and initiatives that balance both the interest of banks and the wider public.
For more information, customers can contact the GAB at info@gab.com.gh or 233-302-667-138 / +233-302-670-629.