NIB insights
The latest developments in Non-Interest Banking across Ghana, West Africa, and the global non-interest finance landscape.
Ethika Finance participated in the 2025 IFIC by IFRIG on 27 September 2025 — with professionals from Nigeria, a Takaful (non-interest insurance) expert from Kenya, dignitaries from the Christian Council, and the theme: Non-interest finance as a catalyst for inclusive and sustainable development.
Ethika attended the 5th NIB & Finance Forum on 28 February 2026, when the BoG NIB regulation was announced. Quick NIB lessons and discussions on human resource and expertise challenges — a gap Ethika is helping to close through its NIB hub.
The Bank of Ghana has issued revised operational guidelines for banks operating Non-Interest Banking windows, strengthening Shariah governance requirements and capital allocation rules effective Q1 2025.
Stanbic Bank Ghana has launched a new Ijara wa Iqtina home financing product for its Non-Interest Banking window, providing Shariah-compliant property ownership solutions for Ghanaian homebuyers.
Senegal's government successfully raised XOF 150 billion (approximately USD 245 million) through its latest Sovereign Sukuk issuance, demonstrating growing appetite from investors in non-interest instruments for West African issuances.
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has issued updates to Shariah Standard No. 57, with implications for gold-backed Sukuk and commodity Murabaha transactions.
The Islamic Development Bank Group has approved a USD 300 million Sukuk-based financing package for infrastructure projects across West Africa, including road and energy projects in Ghana and Nigeria.
La Côte d'Ivoire a lancé son troisième programme de Sukuk souverain, levant 150 milliards FCFA pour financer des projets d'infrastructure, consolidant sa position de leader de la finance islamique en Afrique de l'Ouest francophone.
IFRIG held its annual IFIC conference, bringing together regulators, banks, scholars, and practitioners to discuss NIB implementation, BoG guidelines, and capacity building.
IFRIG and IFPIG have expanded their IFPI & CIB Ghana certification offerings to support banks and professionals implementing Non-Interest Banking in Ghana.
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