{
  "id": 4858176,
  "title": "Non-interest finance is for everyone: IFRIG supports BoG’s inclusive financial agenda",
  "url": "https://urgent.news/2026/09/01/non-interest-finance-is-for-everyone-ifrig-supports-bogs-inclusive",
  "topic": "world",
  "section": "World",
  "published": "2026-09-01T12:17:41.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/non-interest-finance-is-for-everyone-ifrig-supports-bogs-inclusive-financial-agenda/"
  },
  "original_language": "en",
  "account": "For centuries, banks have primarily lent money and earned profit through interest. However, the global financial landscape has shown that alternative models exist. Non-interest banking is one such alternative, and it's crucial to support the Bank of Ghana's stance on this matter. IFRIG, a research institute focusing on non-interest banking and finance, wholeheartedly endorses this view. This inclusive financial system can serve anyone, irrespective of their religion, ethnicity, or beliefs. Non-interest banking should be viewed as a supplementary option to the traditional banking system, not a substitute. Every individual and business in Ghana should have access to various financial products tailored to their unique needs and preferences. Unlike conventional banks, non-interest banks generate income through commercial contracts and real economy activities. These revenue-generating methods include asset-based financing, leasing, trade and investment activities, and equity-based partnerships. Customers can access these products and services without being a Muslim, such as a Christian entrepreneur, farmer, trader, professional, or investor. The UK and Nigeria have demonstrated that non-interest banking can thrive in diverse societies, proving that it is not exclusive to any particular group. The introduction of Sukuk, or non-interest bonds, can provide Ghana with additional financing options for vital infrastructure projects, attracting both domestic and international investors. Expanding non-interest banking in Ghana will create opportunities for various professionals and contribute to the financial sector's diversification and growth. Ghana should view non-interest banking as a complementary option to the existing banking system, promoting a more inclusive, innovative, and sustainable financial landscape for all Ghanaians.",
  "summary": "For many years, conventional banking has been the dominant model through which individuals and businesses access financial services.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Joy Business",
        "title": "Non-interest finance is for everyone: IFRIG supports BoG’s inclusive financial agenda",
        "url": "https://urgent.news/2026/09/01/non-interest-finance-is-for-everyone-ifrig-supports-bogs-inclusive-4859989",
        "published": "2026-09-01T12:17:41.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}