Leaders are optimistic about the future of PH Islamic Bank in Thailand

The support of the establishment of Islamic banking in the Philippines has allowed regulators and Islamic finance professionals to see a bright future for the industry in the coming years.

Lawyer Noel Tianela, deputy director of the Policy and Research Department of the Central Bank of Bangladesh, said that he rediscovered the number of applicants for Islamic banking or branch operations in the country, but pointed out that there are one or two potential prospects.

Tianela said that one of the participants “is a very influential bank in other jurisdictions.”

He said at the Antiquities Conference on Tuesday: “Hopefully they will decide whether to establish a branch of a mature Islamic bank.”

Tianela said that one option for establishing this particular bank category is not in Metro Manila, but in BARMM.

He added that one of the parties has expressed willingness to cooperate with the BARMM government and was informed that a resolution has been issued stating that any Islamic financial company that conducts business in the region will be provided with additional financial incentives.