The Bangko Sentral ng Pilipinas (BSP) has approved Circular No. 1139 on the Guidelines for Reporting Islamic Banking and Finance Transactions/Arrangements. This is a major leap forward for Islamic Finance in the Philippines as Islamic Banks (IBs) and Islamic banking units (IBUs) that are yet to be established now have… Read More »Guidelines for Reporting Islamic Banking and Finance Transactions/Arrangements
The Bangko Sentral ng Pilipinas (BSP) has approved Circular No. 1070 on the Shari’ah Governance Framework (SG) for Islamic Banks (IBs) or Islamic banking units (IBUs). The SGF was issued following the passage of Republic Act No. 11439 or the Islamic Banking Act and the Guidelines on the Establishment of IBs and IBUs. The… Read More »Shari’ah Governance Framework
The Bangko Sentral ng Pilipinas (BSP) has issued Guidelines on the Establishment of Islamic Banks (IBs) and Islamic Banking (IBUs) pursuant to the provisions of Republic Act No. 11439 or the “Islamic Banking Act”. The BSP has also issued several other circulars to implement the Islamic Banking Act, including the Shari’ah Governance… Read More »Guidelines on the Establishment of Islamic Banks and Islamic Banking Units