Non-Interest Banking to Complement, Not Replace Conventional Banking – BoG Governor

The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has clarified that the Non-Interest Banking and Finance (NIBF) framework is intended to complement and not replace conventional banking.

He gave the clarification when the Bank of Ghana on Monday, August 31, 2026, engaged members of the Ecumenical Community at Bank Square in Accra as part of ongoing stakeholder consultations and public education on the NIBF framework.

According to the Governor, NIBF is designed to offer consumers greater choice within a sound, inclusive, and non-discriminatory financial system.

“Our focus is on its economic and developmental benefits, including wider access to financial services, product diversity, and consumer choice,” he said.

He further stressed that the Bank’s role is regulatory, not religious.

“The Bank does not pronounce on religious beliefs; our responsibility is to regulate institutions and products,” Dr Asiama stated.

The engagement provided an opportunity to address concerns, clarify the regulatory framework, and strengthen public understanding of NIBF, with the Governor underscoring the importance of continuous dialogue, noting that “Public education cannot be one-way.”

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