GCB Bank set to introduce non-interest banking window

GCB Bank PLC is preparing to introduce a dedicated Islamic banking window after high-level discussions with the International Islamic Financial Market (IIFM).

The talks took place on February 10, 2026, and were led by GCB Bank Board Chairman Professor Joshua Alabi.

The meeting marked a key step in the bank’s plan to expand financial inclusion in Ghana by offering Shari’ah-compliant, ethical banking solutions.

As Ghana’s largest indigenous bank, GCB Bank aims to leverage IIFM’s global expertise to ensure the new Islamic banking window operates under internationally recognised standards.

2026 non-interest banking rollout to spur capital market innovation - BoG

The collaboration will focus on standardised Islamic financial contracts, world-class product templates, and strengthened internal frameworks to foster a resilient and inclusive financial ecosystem.

The introduction of Islamic banking is expected to provide alternative, non-interest-based financing options for communities in Ghana.

The initiative seeks to reach segments of the population that prefer ethical, risk-sharing financial products over traditional interest-bearing models.

Board Chairman of GCB Bank PLC, Professor Joshua Alabi said the project is part of the bank’s broader strategy to deliver innovative solutions, enhance shareholder value, and contribute to national economic development.

This development follows a series of interfaith and community engagements by GCB Bank earlier in 2026, including an Islamic Thanksgiving Service with the National Chief Imam, Sheikh Osman Nuhu Sharubutu.

Under the leadership of GCB Bank PLC Managing Director Farihan Alhassan, the bank is prioritising innovation and service excellence in 2026.

SP/MA

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