Ghana news briefing
BoG warns against weak non-interest banking products as NIFAC inaugurated
The Council will advise the Bank of Ghana on matters relating to the regulation and supervision of non-interest banking institutions in Ghana.
The Bank of Ghana subsequently established a dedicated team to develop the necessary regulatory and supervisory framework, leading to the publication in January 2026 of guidelines for the regulation and supervision of non-interest banking in Ghana.
Speaking at the inauguration of the Non-Interest Financial Advisory Council (NIFAC), Dr Asiama said products should not be accepted simply because they carry a non-interest label, stressing the need for proper assessment of their structure, risks, costs and obligations.
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