BoG Approves Fidelity Bank As Primary Dealer In Government Securities

Fidelity Bank Ghana Limited has received authorization from the Bank of Ghana to be an approved Primary Dealer (PD) in the purchase and sale of Government of Ghana securities under the new wholesale auction system.

This authorization allows the Bank to purchase Treasury bills and bonds in bulk at the weekly primary auction and on-sell them to individuals and corporate investors and holders in the secondary market.

The authorization offers an exciting opportunity to customers and non-customers of Fidelity Bank to buy and sell Treasury bills or bonds at so much ease and comfort now. Customers are now able to contact any of the seventy-five(75) branches of the Bank nationwide and make their purchases of treasury bills and bonds.

The Bank is ever ready to offer investors competitive rates on their Treasury bills and bonds purchases or pay cash within minutes of selling their bills and bonds to the Bank.

In an interview, the Deputy Managing Director, Mr. Jim Baiden noted that, the selection of Fidelity Bank as a Primary Dealer affirms the Bank’s credibility and sound record as an accomplished securities dealer over the past several years.

He stated that, the authorization is a step in the right direction towards the Bank’s ambition of becoming a world class bank pursuing high standards in banking.

He further added that the Bank will continue to improve its service delivery by focusing on the needs of customers and optimizing existing processes to match global standards. ‘’As a matter of priority, we will be focusing on evolving technologies that will define the future of banking.

We will also increase capacity levels across all departments and branches to ensure that the Bank is well resourced and ready for the future.

We believe with the support of our customers, we will achieve our aim of becoming the preferred indigenous Bank rendering world class services to our home based customers ’’ he reiterated.