The Bank of Ghana (BoG) is actively recruiting both local and international experts to accelerate the growth of Ghana’s non-interest banking and finance sector.
Ismail Adam, Acting Head of Banking Supervision at BoG, speaking on behalf of the Governor during a stakeholder meeting in Accra, highlighted the sector’s potential to enhance financial inclusion and diversify the nation’s financial system. He emphasized that non-interest finance is a global strategy to expand access to financial services, particularly targeting underserved groups and small businesses.
Adam stressed that with the right expertise and supportive regulations, Ghana could reap significant benefits. “We are dedicated to establishing a regulatory environment where non-interest financial institutions can flourish. This involves capacity building and leveraging both local and foreign specialist knowledge to strengthen the sector,” he explained.
He further noted ongoing collaboration with industry participants to develop robust frameworks that foster innovation while protecting financial stability.
Adding to this, James Klutse Avedzi, Director-General of the Securities and Exchange Commission (SEC), emphasized the need for cooperation between regulators and market players. He remarked that a well-regulated, well-supported, non-interest financial ecosystem would boost investor confidence and expand Ghana’s capital markets. “We are ready to work alongside the central bank to fully implement non-interest banking and finance,” he stated.
The event gathered financial institutions, regulators, and other stakeholders to review progress and explore new opportunities in this growing sector.
Story by: Mercy Addai Turkson #ahotoronline.com