Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has assured that the introduction of non-interest banking in Ghana is not an attempt to promote any religion within the country’s banking system.

Speaking at an engagement with the Ecumenical Society at the Bank Square on Monday, August 31, 2026, Dr Asiama said non-interest banking is a financial service available to all Ghanaians, regardless of their religious beliefs.

“Some have asked whether the Bank of Ghana is introducing a religion into Ghana’s banking system or supporting one faith over another. The Bank is not a regulator of religion, nor is it introducing a new religious category,” he stated.

He explained that non-interest banking is already recognised under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), and that the BoG’s role is to regulate and supervise financial institutions that choose to provide the service.

How to check if a cedi note is genuine

According to him, non-interest banking will operate alongside conventional banking rather than replace it.

Dr Asiama said the BoG had held consultations with major Christian groups, including the Christian Council of Ghana, the Ghana Pentecostal and Charismatic Council, the Ghana Catholic Bishops’ Conference and the National Association of Charismatic and Christian Churches.

He added that Islamic leaders were also engaged as part of the consultation process.

According to Dr Asiama, the consultations helped the Bank develop rules that make it clear that non-interest banking is open to everyone.

Following the engagements, the BoG published its final Guideline for the Regulation and Supervision of Non-Interest Banking in Ghana on January 13, 2026.

He explained that non-interest banking does not involve the payment or receipt of interest and avoids activities such as gambling and excessive uncertainty. Transactions are also expected to be linked to real economic activities and productive assets.

Dr Asiama noted that non-interest banking remains a commercial financial service and will be regulated like other banking activities.

Financial institutions will therefore require a licence from the Bank of Ghana before they can offer non-interest banking services.

Why government is giving diesel users GH¢2 relief but not petrol consumers

He also explained that the Non-Interest Financial Advisory Council, inaugurated on August 18, 2026, provides only technical advice and does not have regulatory or enforcement powers.

He stressed that no religious body would be given control over Ghana’s banking system.

Dr Asiama maintained that non-interest banking could expand access to finance and support economic development without replacing conventional banking.



DR/MA

Technology will be key to improving air traffic management – President Mahama