Islamic finance: an open letter to his Excellency President John Dramani Mahama

In the name of Allah, the compassionate the merciful

Dear President John Dramani Mahama,

I hope this letter finds you in the best of health. As you seek re-election this year, I would like to remind you of a promise that was made in your manifesto for your last four-year 2020 presidential bid- the implementation of Islamic Banking and Finance in Ghana. It was the first time in the history of our country that a former president who is also seeking re-election has made such a worthy promise.

All our neighbouring countries have already implemented Islamic Banking and Finance. In addition, it is gaining popularity worldwide for its ethical and socially responsible approach to financial services. It is based on principles of fairness, transparency, and risk-sharing, and can benefit the Muslim community and the wider Ghanaian population.

In your manifesto during the last election, you pledged to implement Islamic Banking and Finance in Ghana, recognizing the potential benefits it can bring to the country’s economy and financial sector. However, this promise did not come to pass due to not being re-elected by the good people of Ghana.

As you seek another term in office in this year, I urge you to prioritize the implementation of Islamic Banking and Finance in Ghana. This will not only fulfil your previous commitment but also demonstrate your commitment to inclusive and sustainable economic development.

Islamic Banking and Finance can promote financial inclusion, support small and medium-sized enterprises, and contribute to the overall economic growth of the country. Furthermore, Islamic banking has the potential to attract foreign investment from the Islamic Development Bank and countries that already have well-established Islamic financial institutions. This could help stimulate our economy and create new opportunities for growth and development. By implementing this system, you will not only fulfil a promise but also take a step towards a more inclusive and ethical financial sector in Ghana.

I kindly urge you to prioritize this issue and make it a key part of your agenda for the upcoming election. The Ghanaian people deserve an alternative financial system to the existing conventional system that is fair, transparent, and inclusive.

I look forward to seeing your commitment to this important issue and hope that you will work towards implementing Islamic Banking and Finance in Ghana if re-elected, and I am willing to support this initiative in any way I can.

Sincerely,

YAHAYA ILIASU MUSTAPHA

Thank you for your time and consideration.

The writer is an Islamic Banking and Finance patron and advocate in Ghana and beyond.

Email: [email protected]

https://www.facebook.om/Yahaya.iliasu.94

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