Potential Challenges of Islamic Banking in Ghana

Purpose – This study assesses the potential challenges of Islamic Banking implementation in Ghana. Design/Methodology/Approach- The research is qualitative research that employed questionnaires to measure the opinions of a sample of 72 main banking employees in four banks conveniently and purposively selected within the banking industry of Ghana. A total of 12 experts are also interviewed. The data analysis is done via SPSS V.20. Findings- The findings from the research reveal that core banking employees are highly educated dominated by males. The data results also showed that the following challenges are eminent: unfamiliar Arabic terms, lack of regulatory framework, lack of trust, lack of adequate human resource and religious undertone. Research Implication- The research setting is dominated by Muslims and the sample size should be considered before generalization of these findings over the entire country. Practical Implications- The findings are indication that Islamic banking can be implemented in Ghana if deliberate efforts are put in place to address the challenges. Originality/Value- The study is the first of its kind in assessing the opinions of core commercial banks employees and experts concerning the challenges of Islamic Banking in Ghana. This study will contribute to the meager literature on Islamic banking.