The Bank of Ghana (BoG) says Non-Interest Banking and Finance could help widen access to financial services, increase consumer choice and mobilise investment into productive areas of the economy.
Governor Dr. Johnson Pandit Asiama said the Bank’s interest in the emerging financial model was driven by its mandate to promote financial sector development, stability and inclusion.
Speaking at a public engagement with the Ecumenical Society at Bank Square in Accra on August 31, 2026, Dr. Asiama said the model could contribute to a more diversified financial sector.
“The Bank of Ghana’s interest in Non-Interest Banking and Finance is rooted in its mandate to promote financial sector development, stability and inclusion,” he said.
He explained that the framework is designed around financial transactions linked to real economic activity and productive assets rather than the payment and receipt of interest.
The Governor said the products would be guided by fairness, transparency, equity and risk-sharing.
“The products are structured differently but remain commercial financial products,” Dr. Asiama said.
According to him, the framework avoids interest, excessive uncertainty, gambling and investments in prohibited activities while encouraging financing connected to production and sustainable economic activity.
He said the principles underpinning the model have broader relevance beyond religious considerations.
“These values resonate across religious and ethical traditions,” he said.
Dr. Asiama said the introduction of non-interest financial products would give consumers greater choice while complementing existing banking services.
The BoG published an exposure draft of its regulatory framework on December 9, 2025, and, after considering public comments, issued the final Guideline for the Regulation and Supervision of Non-Interest Banking in Ghana on January 13, 2026.
The Governor said the framework, if properly implemented, could contribute to Ghana’s socio-economic development.
Source: Starrfm.com.gh
