Banking and Finance, News

BSP links up with the Philippine Embassy in Saudi Arabia to promote Islamic banking and finance

calendar_today September 6, 2023 schedule 3 min read

The Bangko Sentral ng Pilipinas (BSP) announced recently that it has successfully engaged with the Philippine Embassy in Riyadh, Kingdom of Saudi Arabia in promoting the BSP’s initiatives to develop Islamic banking and finance in the Philippines. BSP Assistant Governor Atty. Arifa A. Ala, Lead Advocate on Islamic Banking and Finance and also the Chairperson […]

BSP proposes minimum P3-B capitalization for Islamic banks, consultations ongoing

calendar_today July 11, 2022 schedule 4 min read

The Monetary Board, the policy-making arm of the Bangko Sentral ng Pilipinas (BSP), is proposing that capital requirements for Islamic banks be made similar to conventional banks. Once approved, this figure could range between P3 billion to P20 billion, depending on how many branches would be put up. “No final decision yet. Consultations are ongoing,” […]