The Managing Director of the Agricultural Development Bank (ADB), Edward Ato Sarpong, has expressed strong support for the Bank of Ghana’s (BoG) non-interest banking and finance initiative, describing it as a transformative model to empower businesses and stimulate Ghana’s economic growth.
Speaking on the sidelines of stakeholder engagements on the policy framework, Mr. Sarpong stressed that non-interest banking is more than a faith-based alternative to conventional banking.
Instead, it is a business proposition that expands access to credit, creates flexibility for small and medium-sized enterprises (SMEs), and strengthens economic resilience.
“Non-interest financing is about creating choices and ensuring inclusion,” he said. “It gives SMEs the real drivers of our economy, the flexibility to grow without being constrained by traditional lending structures. This is how we create sustainable growth and open new doors for entrepreneurs.”
Mr. Sarpong explained that the model offers businesses alternative channels to raise capital and provides individuals, especially those excluded from mainstream banking, a genuine pathway into the financial system.
He reaffirmed ADB’s commitment to innovation under its “Beyond Banking” corporate positioning, saying the bank will remain focused on solutions that not only deliver financial services but also promote prosperity across communities.
“As a bank mandated to support national development, we are determined to lead with solutions that meet the diverse needs of Ghanaians,” he added. “Non-interest banking is one of the innovative tools that will help us deliver on this mandate.”
The ADB MD further noted that non-interest banking products can unlock new opportunities for enterprises and support long-term sustainability by reducing reliance on conventional debt structures.
The Bank of Ghana is currently working with stakeholders to establish a regulatory framework for the rollout of non-interest banking and finance in Ghana.
The initiative aims to expand financial inclusion, attract investment, and create more opportunities for wealth generation.
“This is a business model with huge potential to serve both faith-based communities and the broader economy,” Mr. Sarpong added.
