{"id":297044,"date":"2025-12-03T16:58:14","date_gmt":"2025-12-03T16:58:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/297044\/"},"modified":"2025-12-03T16:58:14","modified_gmt":"2025-12-03T16:58:14","slug":"financial-institutions-urged-to-gear-up-for-non-interest-banking-rollout","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/297044\/","title":{"rendered":"Financial institutions urged to gear up for Non-Interest Banking rollout"},"content":{"rendered":"<p class=\"article-image\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/Financial-institutions-urged-to-gear-up-for-Non-Interest-Banking-rollout-BoG-2012009?gallery=1\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/12\/81864154.295.jpg\" alt=\"Dr Johnson Pandit Asiama is Bank of Ghana's Governor\" title=\"Dr Johnson Pandit Asiama is Bank of Ghana's Governor\" width=\"295\" height=\"197\" \/> <\/a>Dr Johnson Pandit Asiama is Bank of Ghana&#8217;s Governor<\/p>\n<p id=\"article-123\">Financial institutions across the country have been urged to prepare for the rollout of Non-Interest Banking and Finance (NIBF), a model aimed at expanding access to financing and strengthening the real sector.<\/p>\n<p>Delivering a speech on behalf of Dr Johnson Pandit Asiama, Governor of the Bank of Ghana, Ismail Adam said the initiative marks the first major regulatory effort to operationalise non-interest banking since its legalisation in 2016 under Act 930. <\/p>\n<p>He made the remarks during a capacity-building program held on December 1, 2025, at the M\u00f6venpick Ambassador Hotel.<\/p>\n<p><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/BoG-forecasts-inflation-to-ease-to-6-8-by-end-of-2025-2011158\" rel=\"nofollow noopener\" target=\"_blank\">BoG forecasts inflation to ease to 6-8% by end of 2025<\/a><\/p>\n<p>The program is designed to equip banks and regulators with the skills and knowledge required for effective implementation.<\/p>\n<p>\u201cThis model of banking is asset-backed, risk-sharing, and profit-and-loss driven, unlike conventional banking which is largely debt-based and interest-driven,\u201d Dr Asiama stated.<\/p>\n<p>He added that building expertise in areas such as product development, contract structuring, accounting, auditing, and taxation is essential for the successful adoption of NIBF in Ghana.<\/p>\n<p>The Governor further emphasised the need for banks to upgrade their systems and infrastructure, noting that traditional core banking systems are not designed to support non-interest products. <\/p>\n<p>He urged financial institutions to conduct technology audits, develop phased implementation plans, and invest in staff training.<\/p>\n<p>Regulators, including the Securities and Exchange Commission and the National Insurance Commission, will provide guidance and oversight to ensure a smooth rollout.<\/p>\n<p>\u201cThe introduction of Non-Interest Banking in Ghana is a strategic step to deepen financial inclusion, attract new investment, and diversify the financial system,\u201d Dr Asiama added.<\/p>\n<p>Meanwhile, as the BBC moves the home of its Focus on Africa Podcast to Nairobi, GhanaWeb&#8217;s Etsey Atisu connected with the host for an exclusive interview on The Lowdown. Watch it here:<\/p>\n<\/p>\n<p>AK\/MA<\/p>\n","protected":false},"excerpt":{"rendered":"Dr Johnson Pandit Asiama is Bank of Ghana&#8217;s Governor Financial institutions across the country have been urged to&hellip;\n","protected":false},"author":2,"featured_media":297045,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-297044","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/297044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=297044"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/297044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/297045"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=297044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=297044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=297044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}