Afyrie-Ankrah to chair Non-Interest Banking Consultative Committee

Presidential Envoy for Interfaith and Ecumenical Relations, Elvis Afriyie-Ankrah, has been entrusted with a key role in Ghana's ongoing proposed Non-Interest Banking and Finance framework, after stakeholders agreed to establish a consultative subcommittee under his chairmanship.

The development places the former deputy local government minister and director of elections at the centre of an important national conversation involving the Bank of Ghana (BoG), Christian leaders, Muslim leaders and other faith communities.

The committee's establishment followed a high-level engagement between the BoG and representatives of major Christian and ecumenical bodies on September 1, 2026, during which concerns were raised about aspects of the proposed framework and its implications for Ghana's religiously pluralistic society.

Rather than treating those concerns as opposition to Non-Interest Banking, stakeholders agreed that they should be addressed through further dialogue, public education and wider consultation.

It is against this background that Afriyie-Ankrah has been selected to chair the consultative subcommittee, with responsibility for continuing discussions with the central bank and broadening the process to include the Muslim community and other relevant faith groups.

As Presidential Envoy for Interfaith and Ecumenical Relations, his role is to facilitate dialogue among Ghana's faith communities and help build understanding around issues capable of generating religious or social tensions.

His intervention comes at a time when the BoG is seeking to explain that Non-Interest Banking is not the introduction of a religious banking system, but a regulated financial model designed to operate alongside conventional banking.

At the September 1 engagement, BoG Governor, Dr Johnson Pandit Asiama, stressed that the central bank was not introducing a religious system into Ghana's banking sector.

He explained that Non-Interest Banking is intended to provide an inclusive and non-discriminatory alternative within the country's financial system.

Hon. Afriyie-Ankrah, for his part, emphasised the importance of dialogue, warning that inadequate information could create misconceptions while the absence of dialogue could allow assumptions to replace facts.

The committee is expected to provide a structured avenue for stakeholders to raise concerns, make recommendations and seek clarification from the BoG.

The central bank's December 2025 exposure draft explained that the initiative is intended to support economic growth, deepen financial inclusion, promote sustainable development and create new jobs.

The committee's work comes at a sensitive intersection of religion, finance, constitutional principles and economic development.

Any perception that the initiative favours one religious group could undermine public confidence, while failure to properly understand the potential benefits could also limit Ghana's ability to diversify its financial sector.