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
Republic Act No. 11054 or the “Bangsamoro Organic Law” established the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) as a subnational political entity with the aim, among others, of granting meaningful fiscal autonomy to the Bangsamoro Government that ensures economic self-sufficiency and genuine development. Article XIII has several sections specifically dedicated… Read More »Islamic Banking and Finance under the Bangsamoro Organic Law