Non-interest banking won’t promote any faith - BoG clarifies

The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has stressed that the new non-interest banking framework does not seek to introduce religion into the country’s banking system or promote one faith over another.

Speaking at an engagement with the ecumenical community in Accra last Monday, the Governor explained that Parliament had recognised non-interest banking as a permissible banking activity under Section 181(R) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), with the central bank’s role limited to providing the necessary regulatory and supervisory framework.

Dialogue to build confidence The Presidential Envoy for Interfaith and Ecumenical Relations commended the BoG for creating a platform for dialogue between the central bank and faith communities to address concerns surrounding non-interest banking.