AhlulBayt News Agency (ABNA): The Central Bank of Ghana has announced preparations to introduce and finance Islamic interest-free banking, aiming to expand financial inclusion and create broader economic opportunities. Governor Johnson Asiama held a meeting in Accra with representatives of Islamic groups as part of wider consultations on the initiative.
Asiama emphasized that Islamic banking could bring more citizens into the financial system and generate greater opportunities across the economy. He noted that the central bank possesses the internal capacity to implement the model, requiring only final legal steps and the establishment of Sharia supervisory boards.
During the session, Sheikh Armiyawo Shaibu, spokesperson for Ghana’s National Chief Imam, highlighted the economic value of the system. He stressed that interest-free banking should be viewed primarily as a commercial opportunity rather than merely a religious matter. According to him, such a system could benefit both religious communities and the country’s overall economy.
The governor confirmed that once the legal procedures and necessary infrastructure are in place, licenses for Islamic banks will soon be issued. The move marks Ghana’s first significant step toward establishing a fully operational interest-free banking framework.
**************
End/ 345
