In opening remarks to an ecumenical engagement, Bank of Ghana Governor Johnson Pandit Asiama clarified that non-interest banking is a legally permitted commercial model available to all customers, not a religious category or replacement for conventional banking. The discussion comes as the central bank moves from policy development to implementation of its January 2026 regulatory and supervisory guideline amid concerns from sections of the Christian community. Non-interest institutions and products remain subject to Bank of Ghana licensing, governance, payment-system oversight and depositor-protection controls. The recently inaugurated Non-Interest Financial Advisory Council will provide technical advice on regulation and supervision and may support coordination with securities and insurance regulators, but it does not displace the statutory authority of those regulators or confer regulatory powers on any religious body.
2026-08-31Bank of Ghana
Bank of Ghana clarifies non-interest banking safeguards as framework moves into implementation
Bank of Ghana Governor Johnson Pandit Asiama clarified that non-interest banking is a legally permitted commercial model open to all, rather than a religious category or substitute for conventional banking. As the framework moves into implementation, licensed providers will remain subject to standard regulatory safeguards, while the new advisory council will offer technical guidance without assuming regulatory or enforcement powers.