The Bank of Ghana (BoG) has invited the banking industry, fintechs, and the general public to submit comments on its draft guidelines for the regulation and supervision of non-interest banking (NIB) in the country.
The draft guidelines, issued in accordance with the Central Bank’s Procedures for Issuance of Directives (2020), are intended to support the growing demand for non-interest financial products and services from individuals, banks, and other financial institutions.
The exposure draft has been published on the BoG website and will remain accessible for a minimum of 14 days. Comments are expected on or before December 24, 2025.
According to the Central Bank, the proposed framework is expected to strengthen Ghana’s real sector, enhance financial inclusion, support the achievement of the Sustainable Development Goals (SDGs), and create new job opportunities in banking and finance.
These outcomes, it noted, align with its core mandate of maintaining price stability, safeguarding financial stability, and promoting economic development.
Among its key provisions, the draft guideline empowers the Bank of Ghana to determine the minimum paid-up capital and application fees for all Non-Interest Financial Institutions (NIFIs).
It also requires that in cases of foreign ownership, at least 60 percent of the required capital must be brought into Ghana in convertible currency and invested in non-interest-compliant instruments.
The BoG stated that once final approval is granted, applicants will be required to pay the licensing fee before a licence is issued. Licensed institutions must also pay an annual licensing fee on or before January 31 each year.
On eligibility, the draft specifies that any entity seeking to operate a non-interest banking business must be incorporated under the Companies Act, 2019 (Act 992), in line with Act 774, Act 930 and Act 1032, and must obtain a licence from the Bank of Ghana.
Applications must be made in writing to the Governor and indicate whether the applicant seeks a full-fledged NIB licence or a window.
The guidelines further require financial technology (fintech) companies offering non-interest-based products to enter into written agreements with licensed Non-Interest Banking Institutions (NIBIs) approved by the Bank.
Under such arrangements, the NIBI will be responsible for product structuring, governance, and financial obligations, while the fintech company may act as a technology and distribution partner.
Additionally, NIBIs must ensure that their products exclude interest, excessive uncertainty, gambling or betting elements, and non-compliant derivative instruments, and must not finance or invest in activities prohibited under non-interest banking and finance principles.
