Dr. Johnson Asiama, the Governor of the Bank of Ghana, has called for a sustainable and inclusive financial system, urging business leaders to support this transformation. He emphasizes the need for continuous adaptation to ensure stability, citing recent global and domestic developments. The theme of the Association of Chartered Certified Accountants (ACCA) Business Leaders' Forum, 'Sustainability and Non-Interest Banking in Ghana', is particularly relevant as the country explores new models to strengthen financial stability and broaden access to finance. Dr. Asiama highlights the importance of a responsive financial system that can withstand global shocks, climate risks, and technological changes while remaining efficient and ethical. Non-interest banking, he argues, offers a complementary approach to traditional finance, promoting shared risks, transparency, and value-based investments that support inclusive growth. Financial stability and economic development are seen as mutually reinforcing, with stable financial institutions fostering confidence in savings and investment, and economic expansion strengthening the broader financial system. Non-interest banking, according to Dr. Asiama, will broaden participation by offering diversified, asset-backed products and expanding inclusion for traditionally excluded segments. The Bank of Ghana is advancing a secular, market-neutral framework that will allow both conventional banks and non-interest banks to operate, supported by collaboration with other regulators and investments in capacity building. Sustainability is a key concern, with Dr. Asiama warning that climate and environmental risks could weaken banks' loan portfolios and undermine financial stability. The Central Bank has introduced Sustainable Banking Principles and a Climate-Related Financial Risk Directive to address these concerns. Aligning non-interest banking with Ghana's sustainable finance agenda, Dr. Asiama believes, will create a stable, ethical, and transformative financial system, requiring collective commitment from regulators, policymakers, and industry leaders. Jamil Amponah, ACCA's Africa Director, sees the planned rollout of a non-interest banking framework in 2026 as an opportunity to reshape Ghana's financial architecture through fairness, partnership, and value-driven finance. He commends the Bank of Ghana for its leadership in bringing the sector to the threshold of implementation and highlights ACCA's role as a technical partner in Ghana's transition, having studied Islamic and non-interest finance for over two decades and incorporating its principles into professional training. Amponah emphasizes the potential for Ghana to design a model that supports manufacturing, agriculture, SMEs, youth-led enterprises, and climate-related investments through risk-sharing structures. ACCA is ready to assist with training, supervisory templates, disclosure guidelines, and market education to ensure readiness for 2026, describing the transition as a chance to build a fair, ethical, and long-lasting banking future.
