The Bank of Ghana recently held a productive engagement with representatives of the clergy to discuss the development of a framework for Non-Interest Banking and Finance (NIBF) in the country.
The meeting, which took place at the Bank Square, saw the attendance of all three governors, the advisor, and directors of the Banking Supervision Department and Communication Department of the Bank of Ghana.
The Governor, Dr Johnson Asiama, projected the business case for NIBF, highlighting its potential benefits for Ghana’s economy.
The meeting was led by Professor John Gatsi, Advisor to the Bank of Ghana, and by Mr. Ismail Adam. Members from various religious organizations, including the Catholic Bishops Conference, Christian Council of Ghana, and Pentecostal Council, provided useful suggestions.
Some highlights shared about NIBF included the fact: it can increase financial inclusion and provide alternative funding options for public and private infrastructure and can also attract investment from Middle Eastern and Asian markets, providing a new source of funding for Ghana’s development projects.
The Bank of Ghana expressed gratitude to the representatives of the clergy for their participation and suggestions. The development of a framework for NIBF is expected to promote economic growth and development in Ghana.
