Business News of Tuesday, 5 June 2018Source: citibusinessnews.comIslamic scholars urge BoG to license Islamic bankingSome scholars believe licensing Islamic banking will positively benefit the financial sectorSome Islamic scholars are urging the Bank of Ghana(BoG) to license Islamic banking in Ghana to improve the financial system. The BoG however maintains that it is working to encourage the establishment of an Islamic Bank in Ghana. “Islamic Banking gives opportunities in loans, neither does it entertain interest. These two values are enough to justify the relevance of Islamic banking and finance” he defended. He added that “Islamic banking is a sector which offers huge growth potential for Africa and Ghana in particular”.

Source: GhanaWeb June 04, 2018 17:48 UTC