Dr Johnson Pandit Asiama, the Governor of the Bank of Ghana (BoG), Monday assured Ghanaians, especially the Christian community, that the country’s impending non-interest banking is not a tool to advance any religious doctrine.
Rather, the Governor explained that non-interest banking is a commercial, inclusive financial service open to every Ghanaian regardless of religious belief, aimed at expanding financial inclusion, choice and ethical banking options.
Dr Asiama gave the assurance during a strategic engagement with Ghana’s religious community in Accra, providing clarification on the regulatory framework governing its operation, backed by Parliament and the Banks and Specialised Deposit Taking Institutions Act 2016 (Act 930).
He acknowledged concerns by sections of the public about the Central Bank introducing non-interest banking to support one faith over the other, describing it as genuine and required honest clarification from the Bank.
The engagement with the Christian community was a crucial opportunity to understand what remained unclear, which safeguards required better explanation, and what concerns persisted.
“The bank is not a regulator of religion, nor is it introducing a new religious category… our role is simply to provide the regulatory and supervisory framework within which licensed institutions may offer this inclusive and non-discriminatory model of commercial banking as a complement to conventional banking and not a replacement of it,” Dr Asiama said.
The Governor’s assurance comes as the Bank of Ghana continues intensive consultations with Ghana’s faith communities following publication of its non-interest banking guideline on January 13, 2025.
He noted that over the past year, the central bank had engaged the Christian Council of Ghana, the Ghana Pentecostal and Charismatic Council, the Ghana Catholic Bishops Conference, the National Association of Charismatic and Christian Churches, Christian civil society organisations, selected churches, and Islamic leadership representatives.
The consultations reinforced the necessity for a public framework and language that remained inclusive, respected Ghana’s religious diversity, and clearly communicated that non-interest banking products remained available to all citizens.
Dr Asiama said the guidelines for non-interest banking, published in December 2025, provided for fairness, transparency, equity, and risk-sharing, production-based finance, responsible and sustainable growth, and shared prosperity – values that resonated across religious and ethical traditions.
He cited the inauguration of the Non-Interest Financial Advisory Council (NIFAC) in August this year, barely a week and a half before the engagement with religious leaders, as a turning point from policy development to implementation.
Governor Asiama reaffirmed BoG’s commitment to transparency, sound governance and consumer protection, noting that well-implemented non-interest banking would complement conventional banking, broaden access, mobilise investment and drive inclusive socio-economic development.
Mr Elvis Afriyie Ankrah, Presidential Envoy for Interfaith and Ecumenical Relations, commended the Bank of Ghana for creating a platform for meaningful dialogue, noting that where insufficient information existed, misconceptions easily arose.
“Where there is no dialogue, assumptions often take the place of facts,” Mr Ankrah observed, highlighting why opportunities for frank, honest engagement between institutions and faith communities proved essential for national development.
He emphasised that while faith communities may approach issues from different perspectives, the collective objective remained consistent – enabling Ghana to enjoy peace, stability, and prosperity through constructive institutional engagement.
“Indeed, where there is insufficient information, misconceptions can easily arise. Where there is no dialogue, assumptions often take place, take the place of facts. It is, therefore, critically important that we seize opportunities such as this to engage one another frankly, honestly, and sincerely,” he said.
He noted that the country, despite its different religious faiths, shared a common responsibility to contribute positively to national development, continue to enjoy peace, stability, and prosperity.
Mr Ankrah expressed confidence that the meeting would clarify the framework, strengthen trust between the central bank and faith communities, and serve the greater good of the nation.
Source: GNA
