Rule library
The rules, read at source
One rule at a time: what it says, how to use it, how it compares with conventional finance. A new one every Thursday.
In Ghana, late-payment penalties must go to charity
A non-interest bank in Ghana may charge a late-payment penalty, but it cannot keep any of it. The money goes into a separate account and is paid out to approved charities.
Bank of Ghana, 13 January 2026, para 55
GhanaIn Ghana, a bank can open a non-interest window without new capital
A conventional bank applies to the Bank of Ghana, which reviews its capital, risk and operations. Extra capital is only required if that review says so.
Bank of Ghana, 13 January 2026, para 25
GhanaIn Ghana, savers must be told in writing that they carry the loss
Before opening a profit-sharing account, the bank must give the client a written notice that the risk of loss is theirs. The client signs or acknowledges it. Failing to give the notice carries a penalty of 500 penalty units.
Bank of Ghana, 13 January 2026, paras 97 to 100