Solutions to Islamic Banking Absence Challenges in Ghana: A Qualitative Approach Study

Abstract

The purpose of this study is to propose solutions to challenges affecting the take-off of Islamic banking implementation in Ghana. This qualitative research uses interviews to measure the opinions of 10 experts with Islamic finance backgrounds conveniently and purposively selected from higher learning/research institutions in Ghana and abroad. The data analysis is thematically done. The findings from the research propose human resource development, collaboration among stakeholders, high advocacy, a comprehensive framework, and a top-down approach as solutions. Muslims dominate the interviewees, and this should be considered before generalization over the entire country. Islamic banking can be implemented in Ghana if deliberate efforts are made to implement the proposed solutions. The study is the first to interview local and foreign experts on solutions to the challenges of IBF in Ghana. This study will contribute to the meager literature on Islamic banking.