Discussion at International Conference in Accra, Ghana, on Tackling Ghana’s Public Debt

At the 2021 Islamic Finance International Conference (IFIC) held in Ghana, a unanimous decision reached was that Islamic finance could be used to address Ghana’s rising public debt.

Why it Matters?

Prof John Gatsi, Dean of the University of Cape Coast’s School of Business, emphasised the important role of alternative finance systems in expanding the financial inclusion landscape. He reiterated that though Islamic finance could not eradicate public debt completely on its own, it could be a means of narrowing the public infrastructure gap utilising project funding consequently reducing the burden of debt. Prof Gatsi said current legislation provided for the incremental implementation of Islamic financial products, specifically mentioning Suku...