Nigerian Islamic scholar, Professor Bashir Aliyu Umar, OON, has been appointed Chairman of the Non-Interest Financial Advisory Council (NIFAC) by the Bank of Ghana.
The appointment places the renowned scholar at the centre of Ghana’s efforts to strengthen and further develop its non-interest finance sector.
The Non-Interest Financial Advisory Council is expected to provide expert advice to the Bank of Ghana on the development and regulation of non-interest finance in the country.
Its responsibilities will particularly cover issues relating to governance, regulatory frameworks and Shariah compliance in the non-interest financial sector.
Professor Bashir Aliyu Umar is widely known for his contributions to Islamic scholarship, particularly in the areas of Islamic finance and Shariah-related studies.
His scholarly work and engagement in Islamic finance have extended beyond Nigeria, earning him recognition within the wider Islamic finance community.
As Chairman of NIFAC, Professor Umar will be expected to contribute his expertise to efforts aimed at developing a sound regulatory environment for non-interest financial institutions and products in Ghana.
His role will also involve supporting measures to ensure that non-interest financial practices comply with established Shariah principles while meeting relevant regulatory requirements.
The appointment has attracted congratulations from members of the Islamic finance community, who described it as a significant international responsibility for the Nigerian scholar.
The development also highlights the growing regional relevance of Islamic finance expertise and the increasing need for qualified scholars to contribute to the development of Shariah-compliant financial systems.
Professor Umar’s appointment is expected to strengthen collaboration and knowledge exchange within the non-interest finance sector as Ghana continues to develop its regulatory and institutional framework.
The Islamic finance community has congratulated Professor Bashir Aliyu Umar on his appointment and wished him success in his new responsibility.
