National Banking College to Introduce Islamic Banking Programmes Next Year

The National Banking College (NBC) is preparing to break new ground in the country’s financial education landscape with plans to introduce Islamic banking programmes next year.

This marks a proactive response to emerging shifts in the banking sector as the Bank of Ghana sets its sights on the introduction of Islamic Financing in the financial sector.

Speaking at the College’s Annual General Meeting, Principal of the institution, Gloria Darline Quartey, revealed that the college has already begun laying the foundation to train professionals for the anticipated rollout of Islamic banking in Ghana.

Addressing the media, she noted that “It is one of the areas that the central bank is actually looking at,” she said.

“We won’t wait for it to start in full before we begin looking in that direction. We are already doing our research and putting our work together. From next year, we will begin to bring that knowledge to our banks,” she added.

Currently, no commercial bank in Ghana offers Islamic banking products, a niche financial service that operates in line with Sharia principles, such as prohibiting interest-based transactions.

The Bank of Ghana is already creating the regulatory framework to allow this system to thrive as part of its vision for a more inclusive financial sector.

The National Banking College’s move positions it as a pioneer, ensuring that bankers and financial professionals will not only be prepared for the rollout but also well-equipped to drive the sector’s growth.

Industry watchers believe that NBC’s foresight could prove critical in bridging knowledge gaps and in laying a strong human resource foundation for a financial model that has shown remarkable success in markets like Malaysia, the UAE, and the UK.

The principal emphasized that the college’s initiative aligns directly with the governor of the Bank of Ghana’s vision of an innovative, inclusive financial system, hence the move to ensure that banks are ready.

With this proactive initiative, the National Banking College is not only reinforcing its role as the country’s premier financial training hub but also giving Ghanaian banks a head start in an area that could diversify financial offerings and foster greater inclusion.

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