The Bank of Ghana and Ghana Community Network Services Limited (GCNet), have organized a stakeholders forum with exporters and banks to educate on the new web-based system for exports documentation and proceeds repatriation would be introduced on July 1.
Speaking at a stakeholder forum with exporters and banks, Millison Narh, First Deputy Governor of the Bank of Ghana (BoG) said the system would help stop the leakages in repatriation of export proceeds.
He said these challenges include the exporters having to manually move the documents around from the central bank to customs and then back to the bank and copies sent to the banks, which makes the process cumbersome.
As part of measures to deepen the foreign exchange markets and promote greater transparency in the determination of the exchange rate, the Bank of Ghana announced amendments to the requirements for surrender and repatriation of export receipts.
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Norvan Acquah – Hayford/Citibusinessnews.com/Ghana