null BSP modifies rules for Islamic banks
BSP modifies rules for Islamic banks
3 May 2023 | Wednesday Source: The Manila Times
The Bangko Sentral ng Pilipinas (BSP) has approved a modified minimum capitalization requirement for Islamic banking units in a bid to further develop this kind of banking system in the country.
In a statement over the weekend, BSP said this policy provides more flexibility in the licensing of an Islamic banking unit of qualified conventional banks.