You have been invited by the Governor of Bank of Ghana for a meeting. At the meeting he narrated his frustration with the Other Financial Institutions Supervision Department (OFISD) of the Bank for not able to ensure the effective management of Foreign Exchange Bureau (FEB) operations in Ghana. The FEB sub-sector is faced with a plethora of challenges which may negatively impact the soundness of the financial system such as speculation and abnormal cedi to dollar, pound, and euro exchange rates. Others include the parallel market operations, money laundering and other related transactions due to the unstructured nature of FEBs operations and the lack of real-time visibility of customer transactions. You are to use your knowledge in Management of Information Systems to design a system that will help the Governor to streamline forex bureau operations in Ghana. 

 Questions

In a three (3) page document, you are to design an MIS to be used by the forex bureaus in the country to track customer transactions (buying or selling). Your design should be able to identify every single customer transactions and the purpose of their transactions. 

Discuss three real time reports that are likely to help the Governor to deal with Forex bureau operators and also customers. Remember to include in your design transaction threshold, transaction volumes and rates per currency.

Answer rating: 100% (QA)

Designing an MIS for forex bureaus in Ghana to track customer transactions and address the challenges mentioned can be a complex task However I will provide an overview of the key components and three ... View the full answer