BoG Fully Prepared to Regulate Non-Interest Banking — Prof. Gatsi
Advisor to the Governor of the Bank of Ghana (BoG) on Non-Interest Banking and Finance, Professor John Gatsi, has affirmed that the Central Bank is adequately equipped to regulate and supervise non-interest banking institutions in the country.
Speaking during the NorvanReports, Economic Governance Platform (EGP) and Ghana Anti-Corruption Coalition (GACC) X Space discussion on the theme “Beyond Interest: Can Non-Interest Banking Reshape Ghana’s Financial Future?” on Sunday, November 9, 2025, Prof. Gatsi noted that the BoG will apply the same regulatory standards used for conventional banks in assessing capital adequacy, governance structures, and risk management for non-interest financial institutions.
“The central bank has a structured way of assessing banks in terms of capital adequacy and capital requirements, and that will be the same approach adopted for non-interest banks. The only difference is in the business model they adopt,” he stated.
According to him, the Bank of Ghana possesses the requisite tools, expertise, and supervisory systems to oversee the smooth operation of non-interest banks. He highlighted that the Central Bank is already developing liquidity management instruments, drawing from models implemented in Malaysia and Nigeria, to support the new banking system.
Prof. Gatsi further explained that the non-interest banking framework introduces a two-tier governance structure: a conventional corporate governance layer in line with the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), and an additional governance layer to ensure that all products align with non-interest banking principles and risk management standards.
He revealed that BoG staff have undergone capacity-building programmes both locally and abroad, including training sessions with international Islamic liquidity management institutions and global regulators, to strengthen supervisory capabilities.
On the readiness of commercial banks, Prof. Gatsi disclosed that at least five banks, including two large domestic ones, are preparing to introduce non-interest banking windows. “We have not encountered any commercial bank opposing the initiative; instead, they see it as an opportunity to expand their business portfolios,” he said.
Providing further clarification, he noted that such windows would operate as dedicated branches, functioning separately from conventional operations, except during the consolidation of financial statements.
Prof. Gatsi concluded that the rollout of non-interest banking will enhance consumer choice, deepen financial inclusion, and offer new channels for financing infrastructure and business development in Ghana. He also urged investors to consider establishing fully-fledged non-interest banks to help diversify and strengthen the country’s financial ecosystem.
