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Maroc Maroc - WN.COM - Business - 02/Dec 14:34

BoG prepares to license first non-interest bank

The Bank of Ghana (BoG) has announced plans to license fully fledged financial institutions dedicated solely to offering non-interest banking and finance (NIBF) services in the country. Once the necessary regulations to operationalise NIBF are developed, the move will also allow existing financial institutions to secure licences to provide non-interest financial products. Although the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) already permits non-interest banking activities, implementation has stalled for years due to the absence of regulatory guidelines. To address the gap, the central bank has begun engaging financial sector stakeholders to build their capacity...

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Senate Demands CBN’S Full Disclosure On ₦1.44trn Surplus

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