Islamic Finance Research Institute of Ghana congratulates finance minister-designate

The Islamic Finance Research Institute of Ghana (IFRIG) has reacted to the nomination by President John Dramani Mahama of a finance minister-designate in the person of Dr. Cassiel Ato Forson.

IFRIG congratulated the nominee through a January 9, 2025, statement signed by its Director General, Dr. Shaibu Ali.

“Your deep understanding of public finance, macroeconomics and fiscal policy equips you to navigate the complexities of the economy with insight and expertise,” the statement read in part.

It further reminded the nominee about some key promises as relates to Islamic Banking and Finance which are contained in the National Democratic Congress (NDC) 2024 manifesto.

Among others, IFRIG underscored the imperative of Ghana pursuing membership of the Islamic Development Bank (IsDB), exploring the areas of assets-backed securities and Islamic financial products as a means to bridging funding gaps and attracting ethical investments and promoting financial inclusion.

“Such measures would align with global trends and bolster the resilience of Ghana’s financial system, paving the way for robust economic growth that benefits all,” IFRIG stressed.

Ato Forson is one of three ministerial nominees submitted by the presidency to Parliament earlier this week. The two other nominees include John Jinapor as energy minister-designate and Dominic Ayine as Attorney General and Minister for Justice-designate.

Parliament has slated their vetting for Monday, January 13, 2025.

Read the full statement below:



About IFRIG

IFRIG is first and foremost, a research institution focused on the Islamic Banking and Finance ecosystem in the country, with significant footprints across the West African subregion.

"Our efforts currently pivoted in the area of research, advocacy and capacity building has the medium to long term aspirations of leveraging on research to usher Ghana into an incremental adaptation of Islamic finance – banking and insurance," a post on their website read.

Its flagship programme is the Islamic Finance International Conference (IFIC), the annual gathering which started in 2020.

It has pooled experts from Ghana, the West African subregion and beyond annually to continue sharing perspectives on the importance of non-interest banking and finance for the wider socio-economic good of Ghana specifically and the global economy.

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