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A Structured Response to Bright Simons’ Article on the “Guideline for the Regulation and Supervision of Non-Interest Banking, 2025 Exposure Draft.

A Structured Response to Bright Simons’ Article on the “Guideline for the Regulation and Supervision of Non-Interest Banking, 2025 Exposure Draft. 1. Strategic Rebranding and Stakeholder Consensus We agree with the author’s acknowledgement that the Bank of Ghana’s decision to rebrand Islamic Banking as Non-Interest Banking was a strategic move to avoid needless controversy. It is important, however, to clarify that this rebranding was not merely cosmetic or unilateral. The decision by the Bank of Read more…

By Sherif Haiman, ago

IFIC CONFERENCE 2025

2025 Islamic Finance International Conference (IFIC) 2025 is organised by the Islamic Finance Research Institute Ghana (IFRIG), under the auspices of the Office of the National Chief Imam (ONCI). •⁠ ⁠Event date: 27th September 2025, 9:00 AM •⁠ ⁠Venue: Accra International Conference Centre (AICC) •⁠ ⁠Two Non-Interest finance experts have consistently been IFIC panelists: Alhaji Attahiru Maccido (Nigeria) and Prof. John Gartchie Gatsi (Ghana).

By Sherif Haiman, ago

Assessing the Potential Demand for Non-Interest Insurance in Ghana: A Pathway to Ethical and Inclusive Coverage

Title: Assessing the Potential Demand for Non-Interest Insurance in Ghana: A Pathway to Ethical and Inclusive Coverage Subtitle: Study highlights the need for increased awareness and trust in non-interest insurance to meet the evolving financial needs of Ghanaians. Accra, Ghana – In a recent research study conducted by a team of experts, the potential demand for non-interest insurance in Ghana has been assessed, shedding light on the viability and benefits of this ethical and inclusive Read more…

By Admin, ago

GHANA’S DEBT RESTRUCTURING, AN ISLAMIC FINANCE VIEWPOINT

Ghana has been borrowing, servicing debts and paying interests for years. The cost of borrowing funds, the rate of interest, the amounts outstanding, plus any fees associated with the diverse financing arrangements over the years has become a burden on Ghana’s national finances. This has led the country to periodically seek debt reliefs from its creditors, and this time around, the option of debt-restructuring has been adopted. Ghana signed up to the “Highly Indebted Poor Read more…

By Admin, ago

WHAT DOES THE BIBLE AND QURAN SAY ABOUT ISLAMIC FINANCE?

As recorded by Professor S.D Goiten, the basis of commerce and industry in the twelfth and thirteenth centuries in the Mediterranean region was formed through partnership and profit-sharing rather than interest-based borrowing and lending. From a very early stage in Islamic history, Muslims were able to gather resources to finance productive activities without interests. However, western financial institutions including banks dominated in following centuries making the Islamic tradition dormant. In the 1970s, the commercial practice Read more…

By Admin, ago

Saudi Sukuk issuance rises by 37% in 2021, says S&P Global

RIYADH: Saudi Arabia’s sukuk issuances jumped by 37 percent in 2021, totalling $36.9 billion, up from $27 billion the year before, S&P Global Ratings revealed. The increase is attributed to the global issuance of foreign-currency denominated sukuk, which has increased by 10 percent in 2021, with large issuances in the Kingdom, such as that by oil giant Saudi Aramco, contributing to the rise. On a broader scale, global sukuk issuance has slightly decreased to $147.4 billion Read more…

By Admin, ago