African News Business and Economy

Ghana Eyes Interest-Free Banking

By Ajuma N / April 28, 2026

Ghana is moving closer to introducing non-interest banking in its financial system. At least one local bank has applied for a licence, with others preparing to follow. The Bank of Ghana has already issued guidelines for this model in 2026. Governor Johnson Pandit Asiama says the regulator is ready to review applications. Non-interest banking avoids interest and uses profit-sharing and asset-based financing.

The Securities and Exchange Commission is also working on sukuk rules to support the system. Experts believe it could help small businesses and attract more investment. The move may also improve financial inclusion and offer new ways to fund development projects.

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