BoG statement on OTC withdrawals was timely - Ghana Association of Banks

The Ghana Association of Banks has praised the Bank of Ghana's recent statement. They believe it effectively addresses disruptions from earlier comments on Over-the-Counter withdrawals.

John Awuah, the Chief Executive Officer, shared this in an interview with Business Live on JoyNews. He mentioned that banks have reassured customers to stay calm.

On May 15, 2025, there were unusual movements in the market. Awuah linked this to comments made by Bank of Ghana board member Isaac Adongo.

He urged foreign currency depositors to remain calm. Awuah emphasized that banks are committed to facilitating legitimate withdrawals.

“All customers should be confident in the banking system,” he stated. He also noted that banks operate within the regulatory framework set by the Bank of Ghana.

Awuah assured that banks are dedicated to meeting legitimate foreign currency needs for individuals and businesses. He concluded by reaffirming their commitment to customer rights regarding these needs.