ACCA Urges Banks to Strengthen Reporting Frameworks Ahead of Ghana’s Non–Interest Banking Rollout
As Ghana prepares to launch its non-interest banking framework in 2026, the Association of Chartered Certified Accountants (ACCA) is calling for stronger reporting, disclosure and governance systems to support the sector’s smooth takeoff and long-term credibility.
Speaking at the ACCA Business Leaders’ Forum on Sustainability and Non-Interest Banking in Accra, ACCA Africa Director, Jamil Ampomah, said the market’s confidence in the new banking model will depend heavily on the quality of information institutions provide to investors, depositors and regulators.
“Non-interest banking can only grow when reporting is reliable and trusted,” he said, emphasising that accurate disclosures on profit-sharing, risk structures and asset-backed transactions will determine how quickly the model gains acceptance in Ghana’s financial landscape.
According to Mr Ampomah, ACCA intends to support banks with capacity-building programmes and technical guidance to ensure compliance with global assurance norms, pointing to markets such as Malaysia and Pakistan where Islamic finance has expanded under strict reporting regimes.
The rollout of non-interest banking is part of the Bank of Ghana’s strategy to diversify financial products and broaden inclusion. The regulatory framework is complete and awaiting final clearance, said Professor John Gatsi, Advisor to the Governor on Non-Interest Banking.
He noted that banks planning to operate non-interest windows must strengthen internal governance structures and train staff across risk, compliance and audit functions. “The sector requires people who understand the products, the risks and the underlying governance,” he said.
Prof. Gatsi added that the central bank will align the non-interest framework with its Sustainable Banking Principles, ensuring institutions integrate environmental, social and governance considerations in product design and risk evaluation. He also highlighted the new job opportunities expected to emerge in areas such as Sharia governance, structuring, compliance and product development.
Market analysts believe the model could expand access to credit for SMEs, agriculture, manufacturing and other key sectors, given its emphasis on asset-backed financing rather than conventional interest-based lending.
Mr Ampomah encouraged banks to move early, arguing that ethical, transparent financial products are gaining global momentum. “The governance and the reporting are what will give confidence to the market,” he said, urging institutions to treat the transition as part of a broader shift toward responsible finance.
With stakeholder training underway and regulatory alignment in progress, Ghana’s financial sector is positioning itself for a significant structural shift—one that could redefine how capital is mobilised, shared and monitored in the years ahead.
