In a yet to be released publication, conducted by IFRIG Ghana, a research firm in Accra, it reveals that 36% of Ghanaians view Human Resource as a challenge that Islamic Banking may face when introduced in Ghana. The report further shows that 27% of Ghanaians view Legal constraint as one of the challenges confronting the introduction of Islamic banking in Ghana

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1 Comment

ALHASSAN Mohammed · May 17, 2020 at 11:53 am

Personally I do not think Human Resource will pose a challenge to the introduction of Islamic Banking in Ghana, the reason being that all the conventional banks are recruiting candidates regardless of their educational background coupled with the fact that there is lots of unemployed graduates out there. The practice in the industry is training-on-the-job and it has worked perfectly, in my opinion.

As for the legal hiccups, I will leave it for the legal brains.

In my opinion, I think the greatest challenge will come from the conventional banks in a form of competing for deposits, which is the basic raw material for a bank. It is difficult to convince the ghanaian depositors (largely non muslims) to opt for a profit-sharing venture instead of pre-determined interest for religious purposes.

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