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29 Oct | Tuesday
Philippines Plans to Allow Banks to Set up Islamic Banking Units

Bangko Sentral ng Pilipinas is leaning toward allowing local lenders to set up Islamic banking subsidiaries, as it steps up efforts to promote Shariah-compliant finance in the country.
“The BSP is pushing for an open approach where conventional banks can operate Islamic banking windows or to establish subsidiary Islamic banks,” the central bank’s Deputy Governor Chuchi Fonacier told Bloomberg News via email.
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source: Bloomberg
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