Ghana will introduce its first comprehensive Islamic banking and finance regulations by the end of 2025, according to an advisor to the Bank of Ghana (BoG).
The advisor, Professor John Gartchie Gatsi, speaking during a working visit to Malaysia, said the BoG, Securities and Exchange Commission (SEC), and National Insurance Commission (NIC) are collaborating to launch a unified regulatory framework across Islamic insurance (takaful), non-interest banking and Islamic bonds (sukuk), reported the Ghana News Agency.
He said, “The government sees strong potential for Islamic bonds to finance strategic projects in energy, agriculture, healthcare, telecommunications and IT – all sectors facing infrastructure deficits. The goal for the Islamic insurance market is to offer inclusive insurance products.”
He added that Ghana’s Islamic finance strategy targets the broader economy, not only its 19.9% Muslim population, and includes plans to join the Islamic Financial Services Board in 2026 to align with international standards.