Professor Gatsi Highlights Regulatory Harmonisation, Capacity Building as Ghana Advances Non-Interest Banking Agenda
Advisor to the Governor of the Bank of Ghana on Non-Interest Banking and Finance, Professor John Gatsi, has underscored the importance of regulatory coordination and capacity development as Ghana prepares to operationalise a comprehensive non-interest banking and finance (NIBF) framework.
Delivering the welcome address at a workshop on the practical adoption of NIBF, Prof Gatsi described the training programme as a critical milestone in Ghana’s transition toward a diversified and forward-looking financial system. He commended the Bank of Ghana (BoG) for its leadership in developing regulatory guidance for the emerging sector.
“The global financial landscape is evolving, and there is a growing undeniable demand for non-interest banking and finance to be part of the financial system, especially in Africa,” he noted, adding that the model presents opportunities for deeper product penetration across banking, insurance, non-bank financial services, social fintech and the capital market.
He said the joint regulatory committee established by the BoG, the Securities and Exchange Commission (SEC) and the National Insurance Commission (NIC) has been instrumental in harmonising guidelines to avoid regulatory inconsistencies during implementation. According to him, simultaneous release of the guidelines will help the industry take off smoothly without asymmetrical compliance pressures.
Prof Gatsi also acknowledged the contributions of various departments within the BoG, including Legal and Communications, as well as international support received from regulators and industry operators in Nigeria, Malaysia, the UK and other jurisdictions experienced in non-interest banking models.
To the facilitators and experts leading the training, he expressed deep appreciation, describing their involvement as “a testament to their commitment to knowledge sharing” and essential in guiding local practitioners through the complexities of NIBF product development and supervision.
He emphasised that a successful rollout will require skilled professionals in senior positions, warning that operating non-interest banking without adequate capacity could prove extremely difficult. The workshop’s agenda, he said, has therefore been structured to strengthen foundational knowledge and practical skills across key thematic areas.
The training focused on core pillars required for the implementation of non-interest banking in Ghana, including product development, capital and licensing requirements, liquidity management instruments and governance frameworks.
Prof Gatsi expressed confidence that the programme would equip participants with the tools needed to support Ghana’s transition to a more diversified and inclusive financial architecture.
