BoG receives 3 applications for non-interest banking licences -

The Bank of Ghana (BoG) has received three applications from institutions seeking licences to operate non-interest banking services in the country, marking a significant step towards the introduction of a new segment of financial intermediation into Ghana’s banking industry.

The applications are undergoing regulatory review following the central bank’s development of a framework to govern the establishment and operations of non-interest financial institutions.

The Governor of the Bank of Ghana, Dr Johnson Asiama, disclosed this in a speech delivered on his behalf by the Bank’s Advisor, Prof. John Gatsi, at the fifth Non-Interest Finance International

Conference in Accra on November 7, 2026.
He said the regulatory framework was developed after extensive consultations with key stakeholders and a review of experiences from different jurisdictions to ensure that non-interest banking could operate within Ghana’s financial system without compromising regulatory standards or creating unfair competition with conventional banks.

“We have developed a regulatory framework that took into consideration lessons from many jurisdictions – both secular and non-secular. We undertook extensive consultations with key stakeholders to develop a progressive and inclusive regulatory framework that promotes non-interest banking on a non-discriminatory basis,” he said.

The framework establishes safeguards in critical areas, including consumer protection, liquidity management, tax neutrality and corporate governance. Dr Asiama said these measures were necessary to provide a sound regulatory foundation, protect customers and strengthen confidence in the sector.

The Bank is also working to develop complementary segments of the non-interest finance market, including non-interest bonds and insurance products, to broaden investment opportunities and support liquidity management.

Dr Asiama said the expansion of non-interest banking would provide individuals and businesses with additional financing options and improve access to financial services.

The three applications now before the regulator represent an early test of market interest in the proposed framework. Their approval will depend on whether the applicants satisfy the Bank of Ghana’s licensing and prudential requirements.