Ghana is set to introduce its first non-interest banking institution this year, a development expected to widen financial inclusion and provide new financing options for businesses and individuals.
The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, announced that one local bank has already applied for a non-interest banking licence.
He also revealed that four other financial institutions are preparing to submit their applications to the central bank.
He made the disclosure at the end of the 130th Monetary Policy Committee (MPC) meeting held in Accra on Wednesday.
He explained that regulators have made strong progress in building the framework needed for the new banking model.
The Bank of Ghana published detailed operational guidelines in January 2026 to guide the process.
“A lot has been done. Hopefully this year, we’ll see the first license. They are working very hard, putting in place the structures. The regulatory structures are very stringent, I can assure you this is best practice,” he said.
Dr. Asiama added that the framework follows international standards to ensure safety, transparency, and efficiency within the financial system. He expressed confidence in the process, stating, “I have no fears at all. The necessary structures are being put to ensure that non-interest banking thrives.”
He also praised John Gartchie Gatsi for leading efforts to build strong governance systems that will boost public confidence in the sector. He further noted that officials from the Banking Supervision Division are actively involved to ensure smooth coordination between policy design and regulatory oversight.
According to him, the introduction of non-interest banking comes at a time when Ghana’s economy is showing signs of resilience despite global uncertainties and external pressures.
He added that recent macroeconomic stability has created a favourable environment for introducing innovative financial services without weakening the stability of the banking sector.
The Governor also assured that the Bank of Ghana remains financially strong and fully capable of regulating the industry while supporting innovation.
Speaking after the MPC briefing, Professor Gatsi said non-interest banking will give businesses, especially small and medium-sized enterprises (SMEs), an alternative source of funding beyond traditional interest-based loans.
“This will give individuals and businesses an alternative to conventional banking services without compromising on regulatory standards,” he told the Ghana News Agency.
He encouraged businesses to take advantage of the new system, adding, “See non-interest banking as an opportunity to expand your operations, hire more people, and contribute to economic growth.”
Professor Gatsi explained that the profit-and-loss sharing model promotes shared responsibility between lenders and borrowers, which strengthens financial discipline.
He also urged future operators to apply strict credit assessment methods similar to venture capital systems.
“This will ensure that only entities with a genuinely high probability of success are able to access funding, while protecting the integrity and sustainability of the non-interest banking system from its inception,” he said.
