The government has been praised for its continued commitment to ensuring that Islamic Banking and Finance (IBF) becomes a reality in Ghana sooner rather than later.

According to Sheikh Mohammed Kamil Mohammed, the Deputy National Imam of Ahlus Sunnah Wal Jamaah (ASWAJ), IBF, in the short, medium, and long term, will benefit the nation as a whole.

In his Eidul Fitr sermon delivered at the forecourt of Parliament on March 30, 2025, he also praised the John Dramani Mahama administration for reducing Hajj fares, as announced weeks earlier.

“We express our gratitude for the reduction in Hajj fares, making it easier for many of our brothers and sisters to fulfill this sacred pillar of Islam. We also pray that the government continues its efforts toward the introduction of Islamic Banking and Finance in Ghana, a step that will greatly benefit the entire nation,” he said.

ASWAJ and other groups observed the post-Ramadan congregational prayers on March 30, after 29 days of fasting. The event was attended by hundreds of adherents, with Deputy Tourism Minister Yussif Jajah representing the government.

IBF has been a key component of the ruling National Democratic Congress (NDC) government’s Resetting Ghana manifesto. Since taking office, President Mahama has stressed his commitment on two occasions to ensuring that processes are put in place to actualize it.

A group that has been leading the IBF advocacy in Ghana is the Islamic Finance Research Institute of Ghana (IFRIG), which, since 2020, has undertaken a series of measures to deepen awareness, acceptance, and implementation of IBF in the shortest possible time.

Members of IFRIG were participants at the National Economic Forum (NEF) convened by the government to undertake a resetting process for the economy, years after a slump that forced the government to enter into an International Monetary Fund (IMF) programme.

AM/MA