Ghana: Authorities to introduce takaful and other Islamic finance regulations by end-2025
Source: Middle East Insurance Review | Oct 2025
Ghana will introduce its first comprehensive Islamic banking and finance regulations by the end of 2025, according to an advisor to the Bank of Ghana (BoG).
The advisor, Professor John Gartchie Gatsi, speaking during a working visit to Malaysia, said the BoG, Securities and Exchange Commission (SEC), and National Insurance Commission (NIC) are collaborating to launch a unified framework across the insurance, banking, and capital markets, reported the Ghana News Agency.
He said the initiative will cover Islamic insurance (takaful), non-interest banking and Islamic bonds (sukuk), creating opportunities for both domestic and international investors.
“The government sees strong potential for Islamic bonds to finance strategic projects in energy, agriculture, healthcare, telecommunications and IT – all sectors facing infrastructure deficits. The goal for the Islamic insurance market is to offer inclusive insurance products,” Prof Gatsi said.
He explained that Ghana’s Islamic finance strategy targets the broader economy, not only its 19.9% Muslim population, and includes plans to join the Islamic Financial Services Board (IFSB) in 2026 to align with international standards. M