Hebron Fin Investment Ltd (HFIL) has refuted assertions by the Bank of Ghana(BoG) that it is operating illegally, hence has been closed.
A press release from the BoG, copied to Citi Business News yesterday indicated that “HFIL is engaging in unauthorised online foreign exchange trading business contrary to section 3(1) of the Foreign Exchange Act, 2006 (Act 723)”.
The central bank further warned that “anyone who does business with Hebron Financial Investment Limited does so at his/her own risk”.
But speaking to Citi Business News after sending a rejoinder, the Chief Executive Officer of Hebron Fin Investment Ltd, Ebo Eshun stated that the company is still operating.
Below is the rejoinder
This is a rejoinder to Citi Business News,’ news release on citibusinessnews.com stating that the BoG has shutdown Hebron Fin Investment Ltd for unauthorized online forex trading.
The news stated that Hebron’s operation was in breach of section 3(1) of the Foreign Exchange Act, 2006 (Act 723).” Which states that A person shall not engage in the business of dealing in foreign exchange without a license issued under this Act.
We hereby submit that this is absolutely false and does not represent the interest of our core values, it is not who we are. Hebron is engaged in a clean, transparent financial services and seeks to advance the interest of our clients in the most ethical, honest and professional manner. Any suggestion that we are doing contrary is most inappropriate.
In recent times, online currency and derivative trading has become an emerging trend in Global markets which provides individuals and institutions the opportunity to trade. On May 9th 2016, Graphic online announced a platform for direct securities trading in international commodities and bond as reported by Manasseh Nii-Boye.
We at Hebron Financial Investment Limited wish to state that, our operations are not geared towards funds mobilization but rather a conduit between the investing public and dealers operating a platform for direct securities trading.
Hebron Financial Investment Limited do not hold itself as a discretionary advisor to manage public funds, hence we do not take deposits from the investing public neither do we keep an account of the customer.
Customers reserve the power to make trading decisions with the regulated broker by signing up unto a platform where account is monitored solely by the customer.
Our meetings with the Representatives of Bank of Ghana in recent times clearly demonstrated that we do no such thing as unauthorized trade.
Over the past 5 years various online forex brokers including: www.ghanafx.com (GFx brokers) www.fabbanking.com (a subsidiary of Fidelity Bank Ghana Limited) gm.ibrokerghana.com (CAL Brokers Limited), have been established in the country affording the average Ghanaian the opportunity to trade forex online (with an ID and proof of residence required to satisfy KYC requirements).
At Hebron Financial Investment Limited we pledge to make the best effort in creating value through sustained growth and wealth creation for all.
You may visit our offices between 8:30 AM to 5:00PM Monday to Friday for business or call customer service on +233303305744 visit us at Tema, Mayflower building, Community 10.
Ebo Eshun, CEO Hebron Fin Investment Ltd
(Mayflower building , Community 10)
By: Lawrence Segbefia/citibusinessnews.com/Ghana