Ghana Could Get First Islamic Bank before End of Year

TEHRAN (IQNA) - Ghana could by end of this year have its first Islamic Bank in operation.

JOY BUSINESS is learning that the institution, which is coming from Saudi Arabia, secured a provisional license from Bank of Ghana start operations last year, Ghana Web reported.

However, it had to ask for an extension till November because of challenges in meeting all key banking requirements.

Head of Banking Supervision of Bank of Ghana, Franklyn Belyne tells JOY BUSINESS the regulator is waiting for some final requirements to be met by the yet-to-be-named bank before it can start operations.

Islamic Banking is currently being operated in many  countries around the world.