ACCA Calls for Strong Governance and Reporting Ahead of Ghana’s 2026 Non-Interest Banking Rollout
By: Solomon Nartey Tetteh
Ghana’s plans to introduce non-interest banking in 2026 have prompted a strong call for transparency and accountability, with the Association of Chartered Certified Accountants (ACCA) urging policymakers and financial institutions to strengthen reporting, assurance and governance systems before the sector becomes operational.
Speaking at the ACCA Business Leaders’ Forum on Sustainability and Non-Interest Banking in Accra, ACCA Africa Director Jamil Ampomah said the success and credibility of the new banking model will depend on how openly institutions disclose their operations.
“Non-interest banking can only grow when reporting is reliable and trusted. Investors and depositors will commit funds only when disclosures are accurate, consistent and independently assured,” he said.
Mr. Ampomah noted that ACCA is supporting the financial sector with capacity-building initiatives aimed at improving governance and reporting as Ghana transitions to the new regime.
The Bank of Ghana (BoG) is expected to operationalise the regulatory framework next year, allowing universal banks to establish non-interest banking windows while also issuing licences to fully fledged non-interest banks.
Mr. Ampomah warned that weak reporting structures could stall the industry’s growth. Citing examples from Malaysia and Pakistan where Islamic finance has expanded on the back of robust disclosure requirements.
He said Ghana must adopt similarly strict standards to build confidence among investors and customers.
Mr Ampomah urged banks to move early, stressing that global demand for ethical and transparent finance is rising. He encouraged financial institutions to view the transition as part of a broader shift toward responsible and sustainable finance.
He also emphasised the need for clear accounting frameworks for reporting on profit-sharing models, asset-backed transactions and risk-management structures. “The governance and the reporting are what will give confidence to the market,” he said.
Professor John Gatsi, Advisor to the Governor on Non-Interest Banking, confirmed that the framework has been completed and is awaiting final approval. He underscored the need for banks to strengthen internal systems ahead of implementation, adding that banks must invest in training for compliance, risk management, treasury and internal audit staff to ensure operational readiness.
“The sector requires people who understand the products, the risks and the underlying governance,” he said.
Prof. Gatsi added that the central bank will integrate non-interest banking rules with its Sustainable Banking Principles to ensure institutions incorporate environmental, social and governance (ESG) risks into product design and operations. This alignment, he said, will strengthen the sector’s resilience and help channel financing into priority areas such as agriculture, manufacturing and infrastructure.
The transition is also expected to create new professional opportunities in areas such as structuring, product development, compliance and Sharia governance. According to Prof. Gatsi, the BoG is collaborating with universities and professional bodies to embed non-interest banking into training programs.
