GCB Bank signals non-interest window preparations — not a licence

GCB Bank PLC has made several public statements about preparing a dedicated non-interest (Islamic) banking window as Ghana’s regulatory framework for Non-Interest Banking takes shape. Ethika reports these developments for awareness — with a clear line: public preparation is not a Bank of Ghana NIB licence.

In February 2026, a GCB delegation led by Board Chairman Professor Joshua Alabi met the International Islamic Financial Market (IIFM) to discuss standardised contracts, product templates, and operational frameworks for a window. In June 2026, GCB delegates completed intensive training with the Institute of Islamic Banking and Insurance (IIBI) in London on non-interest window operations, Shariah governance, treasury, and related topics.

After the Bank of Ghana inaugurated the Non-Interest Financial Advisory Council (NIFAC) on 18 August 2026, Managing Director Farihan Alhassan welcomed the council as an institutional foundation for innovation within a clear, credible framework. GCB framed non-interest finance as a way to broaden choice and inclusion for individuals and businesses — not as a service limited to one faith community.

What this does not mean: As of August 2026, the Bank of Ghana has not gazetted any Non-Interest Banking licence for GCB or any other institution. Ethika’s bank directory lists only BoG-licensed NIB institutions once they are publicly confirmed. We do not treat press statements, training programmes, or expressions of support for NIFAC as proof that a bank may already offer BoG-licensed NIB products.

If you are exploring NIB as a customer or SME, use Ethika’s regulation hub and tools to understand product structures — and always verify licensing status with the Bank of Ghana before opening an account or signing a contract.

Sources: Graphic Online (GCB on NIFAC); MyJoyOnline (IIFM talks); IIBI news.