{"id":20186,"date":"2011-12-23T10:45:41","date_gmt":"2011-12-23T10:45:41","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/12\/ghana-positive-on-starting-islamic-banking\/"},"modified":"2011-12-23T10:45:41","modified_gmt":"2011-12-23T10:45:41","slug":"ghana-positive-on-starting-islamic-banking","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/","title":{"rendered":"Ghana positive on starting Islamic banking"},"content":{"rendered":"

You Are Here: Home<\/a> \u00bb General News<\/a> \u00bb Ghana positive on starting Islamic banking<\/p>\n

\n

Page last updated at Friday, December 23, 2011 10:10 AM \/\/ <\/span><\/div>\n

\"\"<\/a><\/p>\n

Amissah-Arthur – Governor of Bank of Ghana<\/p>\n<\/div>\n

\u2026despite controversy in Islamic dominated Nigeria<\/em><\/strong><\/p>\n

The central bank of Ghana says it will consider giing a license for the regime of Islamic banking in the country if a formal request is made.<\/p>\n

According to the governor of the Bank of Ghana (BoG), Mr Kwesi Amissah-Arthur, the Bank will consider such a regime if a \u201cformal request is made\u201d.<\/p>\n

\u201cFor now there has been no request for us to consider Islamic banking from any group,\u201d Amissah-Arthur told journalists in Accra December 21, 2011.<\/p>\n

\u201cI think when a request is made \u2013 we should be able to consider it,\u201d he adds.<\/p>\n

Mr Amissah-Arthur noted that his fellow governor in Nigeria, Lamido Sanusi, is trying to get him to attend one of the country\u2019s Islamic Banking association conferences.<\/p>\n

But governor Amissah\u2013Arthur said he doesn\u2019t know that as a fact\u00a0 but some of the wealthiest persons in Northern Nigeria are objecting to the system.<\/p>\n

Islamic banking (or participant banking) is banking or banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics, according to Wikipedia.<\/p>\n

Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as Riba or usury) for loans of money. Investing in businesses that provide goods or services considered contrary to Islamic principles is also Haraam (forbidden). While these principles may have been applied to historical Islamic economies, it is only in the late 20th century that a number of Islamic banks were formed to apply these principles to private or semi-private commercial institutions within the Muslim community, added the user-generated content site.<\/p>\n

In neighbouring Nigeria with a population of over a 150 million the central bank had granted approval in principle to Jaiz Bank International Plc to operate as the country\u2019s first Islamic bank, news publication ThisDay reports June 21, 2011 citing Elombah News.<\/p>\n

It is expected that the regime will bring about 70 million muslims to particpate in the banking industry in Nigeria.<\/p>\n

In line with its plans to entrench Islamic Banking culture in the country, the apex bank had early this year rolled out its guidelines on Sharia governance for Islamic Banking, according to ThisDay.<\/p>\n

\"\"<\/a><\/p>\n

Sanusi Lamido Sanusi – Nigeria Central Bank governor<\/p>\n<\/div>\n

But the introduction of Islamic banking in Nigeria is bringing some divide within the country\u2019s religious (both Christians and Muslims) leaders.<\/p>\n

A Voice of America (VOA) report July 15, 2011 indicates some sects, especially Christians are saying the move violates the country\u2019s secular constitution.<\/p>\n

The Christian Association of Nigeria says the move violates the country\u2019s secular constitution and comes at a dangerous time when security forces are battling Islamic fundamentalists who are fighting for an independent nation ruled by Islamic law, reports the VOA.<\/p>\n

A Catholic priest named Father Paul Anyansi of the the St. Peter Claver Catholic church told the VOA that he recognizes the potential economic benefits of Islamic banking but believes its dangers are far greater.<\/p>\n

The Standard Chartered Bank has also hinted of starting Islamic banking services in Oman and Nigeria with talks with regulators ongoing, the BusinessDay news publication reports December 12, 2011 citing Wasim Saifi, StanChart\u2019s global head of Islamic banking as telling reporters.<\/p>\n

By Ekow Quandzie<\/p>\n

Comments<\/h4><\/p>\n","protected":false},"excerpt":{"rendered":"

You Are Here: Home \u00bb General News \u00bb Ghana positive on starting Islamic banking Page last updated at Friday, December 23, 2011 10:10 AM \/\/ Amissah-Arthur – Governor of Bank of Ghana \u2026despite controversy in Islamic dominated Nigeria The central bank of Ghana says it will consider giing a license for the regime of Islamic banking in the country if a formal request is made. According to the governor of the Bank of Ghana (BoG), Mr Kwesi Amissah-Arthur, the Bank will consider such a regime if a \u201cformal request is made\u201d. \u201cFor now there has been no request for us to consider Islamic banking from any group,\u201d Amissah-Arthur told journalists in Accra December 21, 2011. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20186","post","type-post","status-publish","format-standard"],"yoast_head":"\nGhana positive on starting Islamic banking - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana positive on starting Islamic banking - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"You Are Here: Home \u00bb General News \u00bb Ghana positive on starting Islamic banking Page last updated at Friday, December 23, 2011 10:10 AM \/\/ Amissah-Arthur - Governor of Bank of Ghana \u2026despite controversy in Islamic dominated Nigeria The central bank of Ghana says it will consider giing a license for the regime of Islamic banking in the country if a formal request is made. According to the governor of the Bank of Ghana (BoG), Mr Kwesi Amissah-Arthur, the Bank will consider such a regime if a \u201cformal request is made\u201d. \u201cFor now there has been no request for us to consider Islamic banking from any group,\u201d Amissah-Arthur told journalists in Accra December 21, 2011.\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Ghana positive on starting Islamic banking\",\"datePublished\":\"2011-12-23T10:45:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/\"},\"wordCount\":566,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/\",\"name\":\"Ghana positive on starting Islamic banking - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg\",\"datePublished\":\"2011-12-23T10:45:41+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage\",\"url\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg\",\"contentUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ghana positive on starting Islamic banking - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/","twitter_card":"summary_large_image","twitter_title":"Ghana positive on starting Islamic banking - Ghanamma.com","twitter_description":"You Are Here: Home \u00bb General News \u00bb Ghana positive on starting Islamic banking Page last updated at Friday, December 23, 2011 10:10 AM \/\/ Amissah-Arthur - Governor of Bank of Ghana \u2026despite controversy in Islamic dominated Nigeria The central bank of Ghana says it will consider giing a license for the regime of Islamic banking in the country if a formal request is made. According to the governor of the Bank of Ghana (BoG), Mr Kwesi Amissah-Arthur, the Bank will consider such a regime if a \u201cformal request is made\u201d. \u201cFor now there has been no request for us to consider Islamic banking from any group,\u201d Amissah-Arthur told journalists in Accra December 21, 2011.","twitter_image":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/"},"author":{"name":"","@id":""},"headline":"Ghana positive on starting Islamic banking","datePublished":"2011-12-23T10:45:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/"},"wordCount":566,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage"},"thumbnailUrl":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/","url":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/","name":"Ghana positive on starting Islamic banking - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage"},"thumbnailUrl":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg","datePublished":"2011-12-23T10:45:41+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2011\/12\/23\/ghana-positive-on-starting-islamic-banking\/#primaryimage","url":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg","contentUrl":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/b144Amissah-Arthur1.jpg"},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/20186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=20186"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/20186\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=20186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=20186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=20186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}