BoG pledges more public education on Non-Interest Banking amid Christian concerns

The Bank of Ghana has pledged to deepen public education and engagement with Christian leaders over concerns surrounding the implementation of Non-Interest Banking and Finance in Ghana.

Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, said the Bank recognised the concerns within sections of the Christian community and was committed to providing clear answers and listening to stakeholders.

He made the commitment during a public engagement with the Ecumenical Society on Non-Interest Banking and Finance at Bank Square in Accra on Monday, August 31, 2026.

“We know that Non-Interest Banking and Finance has generated genuine concern within sections of the Christian community. We are here to listen, answer your questions directly and understand what more the Bank must do to carry the public along,” Dr. Asiama said.

The Governor said the Bank had already undertaken extensive consultations with major Christian organisations as part of the process of developing the regulatory framework.

These included the Christian Council of Ghana, Ghana Pentecostal and Charismatic Council, Ghana Catholic Bishops’ Conference, National Association of Charismatic and Christian Churches, selected churches and Christian civil society organisations.

He said the Bank attended meetings of the Christian Council and separately hosted two engagements with the Ghana Pentecostal and Charismatic Council.

The BoG also engaged Islamic leaders before bringing Christian and Islamic leadership together to discuss the framework.

According to Dr. Asiama, the consultations helped the Bank recognise the importance of using language that was inclusive, respectful of Ghana’s religious diversity and clear that non-interest banking products would be available to everyone.

The Governor said the Bank also responded to calls for sustained public education.

“You also urged us to provide continuous public education,” he said.

The Bank published an exposure draft of the regulatory framework on December 9, 2025, and invited comments within fourteen days.

After reviewing the comments, the BoG published the final Guideline for the Regulation and Supervision of Non-Interest Banking in Ghana on January 13, 2026.

The Bank has since produced documentaries and two sets of Frequently Asked Questions on the guideline and its governance structure.

Dr. Asiama said the final framework reflected assurances provided during the early stages of the consultation process.

He stressed that public education should not be a one-way process and called on religious leaders to continue sharing concerns and helping the Bank understand how the framework was being received.

“But public education cannot be one-way,” he said.

“Today’s engagement is an opportunity to hear what remains unclear, which safeguards need better explanation and what concerns persist.”

The Governor said the Bank would take responsibility where its communication had been inadequate.

“Where our communication has been insufficient, we must improve it and answer questions respectfully and with facts,” he said.

He urged religious leaders to help the Bank identify areas where additional clarification was required so that people who wished to use non-interest banking products could do so with confidence.

At the same time, he assured customers who preferred conventional banking that they would continue to have access to those services.

Dr. Asiama said the Bank remained committed to transparency, sound governance, consumer protection and regulatory integrity.

He maintained that non-interest banking could complement conventional banking, broaden access to financial services, mobilise productive investment and support Ghana’s socio-economic development.

The engagement forms part of the BoG’s wider efforts to build public understanding and confidence in the emerging non-interest financial services sector while addressing concerns about its regulatory and governance structure.