BANK OF GHANA ACT - 2002 (ACT 612)

    Section - 50 - Transactions in assets of international value

    (1) The Bank may

    (a) purchase and sell external convertible currencies;

    (b) discount and re-discount treasury bills drawn in convertible currencies;

    (c) purchase and sell bills of exchange drawn in convertible currencies;

    (d) import, export, refine, hold, sell, transfer or otherwise deal in gold, gold coins and bullion, silver, platinum and any other precious metals as determined by the Board;

    (e) accept deposits from foreign banking institutions, international financial institutions, foreign governments and their agencies or the organs of the United Nations;

    (f) acquire, hold and transfer foreign exchange and foreign government securities;

    (g) maintain accounts with central banks and reputable international financial institutions;

    (h) act as correspondent bank or agent for an international banking institution or a monetary authority; and

    (i) effect foreign exchange transactions of any kind.

    (2) The Bank shall not acquire, hold or transfer any foreign government securities unless those securities are denominated in convertible currency.