The Bank of Ghana (BoG) has rejected concerns that Non-Interest Banking and Finance will introduce religion into Ghana’s banking system or favour a particular faith.
Governor Dr. Johnson Pandit Asiama said the framework is intended to expand financial inclusion and provide an alternative to conventional banking.
Speaking at a public engagement with the Ecumenical Society at Bank Square in Accra on August 31, 2026, he said, “The Bank is not a regulator of religion, nor is it introducing a new religious category.”
Dr. Asiama said Parliament had already recognised non-interest banking as a permissible banking activity under Section 18(1)(r) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
He stressed that it would operate alongside conventional banking.
“Our role is to provide the regulatory and supervisory framework within which licensed institutions may offer this inclusive and non-discriminatory model of commercial banking as a complement to conventional banking, not a replacement for it,” he said.
Under the framework, non-interest banking avoids the payment and receipt of interest, excessive uncertainty and gambling, while linking financing to real economic activity and productive assets.
The BoG published the final Guideline for the Regulation and Supervision of Non-Interest Banking in Ghana on January 13, 2026, following consultations with Christian and Islamic leaders and other stakeholders.
Dr. Asiama said only licensed institutions would be permitted to provide the services.
“No person may carry on non-interest banking business without a Bank of Ghana licence,” he said.
He added that the BoG would continue engaging religious leaders and other stakeholders to improve public understanding and address concerns surrounding the framework.
