Indonesian, Malaysian firms told to invest in PH Islamic finance

The Bangko Sentral ng Pilipinas and the Asian Development Bank encouraged representatives from the Indonesian and Malaysian business sectors to take advantage of Islamic finance opportunities in the Philippines.

The central bank said it also supports the entry of new players in the Islamic finance sector as part of its broader commitment to enhance financial inclusion and foster economic development in the country, especially in the Bangsamoro Autonomous Region in Muslim Mindanao. BSP assistant governor Arifa Ala told the Indonesian Chamber of Commerce and Industry that “the Philippines is ready and fully committed to building a vibrant Islamic finance ecosystem, and together, we can unlock the full potential for expanded financial inclusion.”

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