International Journal of Multidisciplinary Research and Development

International Journal of Multidisciplinary Research and Development


International Journal of Multidisciplinary Research and Development
International Journal of Multidisciplinary Research and Development
Vol. 7, Issue 10 (2020)

Towards the development of Islamic banking and finance (IBF) in Ghana: A regulatory perspective


Ayatullahi Seidu, Mumin Mashood

Ghana is one of Africa’s largest untapped Islamic finance markets. Despite the passing of a bill that allows Islamic Banking and Finance (IBF) activities in the country, there has still not been a full-fledged Islamic banking operation. Several factors, ranging from regulations to awareness of the whole Islamic finance system, are offered as being critical to the smooth operationalization of the IBF system. This paper, therefore, engages this on-going subject from a regulatory perspective. This paper analyzes two main legal issues, using sections one (1) to nine (9) of ‘The Banks and Specialised Deposit-Taking Institutions’ Act 2016, Act 930.’ The paper finds that while there has been a genuine commitment to providing the regulatory ambiance for IBF in Ghana, there is the need to intensify the efforts since Ghana has more to gain than to lose.
Download  |  Pages : 80-88
How to cite this article:
Ayatullahi Seidu, Mumin Mashood. Towards the development of Islamic banking and finance (IBF) in Ghana: A regulatory perspective. International Journal of Multidisciplinary Research and Development, Volume 7, Issue 10, 2020, Pages 80-88
International Journal of Multidisciplinary Research and Development International Journal of Multidisciplinary Research and Development