Philippines: BSP to ask banks their plans for IBUs

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will pro-actively approach banks – especially the large lenders both local and foreign – if they are interested in establishing an Islamic bank or an Islamic banking unit (IBU).

So far, Diokno said the BSP is entertaining “a number of queries” for either Islamic bank or IBUs.

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