Financial institutions across the country have been urged to prepare for the rollout of Non-Interest Banking and Finance (NIBF), a model aimed at expanding access to financing and strengthening the real sector.

Delivering a speech on behalf of Dr Johnson Pandit Asiama, Governor of the Bank of Ghana, Ismail Adam said the initiative marks the first major regulatory effort to operationalise non-interest banking since its legalisation in 2016 under Act 930.

He made the remarks during a capacity-building program held on December 1, 2025, at the Mövenpick Ambassador Hotel.

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The program is designed to equip banks and regulators with the skills and knowledge required for effective implementation.

“This model of banking is asset-backed, risk-sharing, and profit-and-loss driven, unlike conventional banking which is largely debt-based and interest-driven,” Dr Asiama stated.

He added that building expertise in areas such as product development, contract structuring, accounting, auditing, and taxation is essential for the successful adoption of NIBF in Ghana.

The Governor further emphasised the need for banks to upgrade their systems and infrastructure, noting that traditional core banking systems are not designed to support non-interest products.

He urged financial institutions to conduct technology audits, develop phased implementation plans, and invest in staff training.

Regulators, including the Securities and Exchange Commission and the National Insurance Commission, will provide guidance and oversight to ensure a smooth rollout.

“The introduction of Non-Interest Banking in Ghana is a strategic step to deepen financial inclusion, attract new investment, and diversify the financial system,” Dr Asiama added.

Meanwhile, as the BBC moves the home of its Focus on Africa Podcast to Nairobi, GhanaWeb's Etsey Atisu connected with the host for an exclusive interview on The Lowdown. Watch it here:



AK/MA