As consultant of CDA-ARMM, secretariat head of ARMM Islamic Finance Sub-Cluster, and member of the Technical Working Group (TWG) of the Business Sustainability Framework for the Bangsamoro (BSFB), SEED Initiative Founder and CEO, Mr. Saidamen R. Mambayao, attends the two-day Orientation and Training on Islamic Banking and Finance of the Philippine Business for Social Progress and the Al Qalam Institute Institute for Islamic Identities And Dialogue in Southeast Asia conducted on November 23-24, 2017 at Em Manor Hotel, Cotabato City.

 

The topics discussed during the orientation and training include:

 

1. Introduction to Islamic Banking and Finance in the Philippines: Theory and Practice;

2. Core Principles for Islamic Banking and Finance Regulations;

3. IMF Model of Kadtabanga Foundation;

4. Islamic Finance Concepts, Models, Growth and Opportunities; and

5. Duties and Responsibilities of Shari’ah Boards form a legal and regulatory perspective.

 

After the sessions on the said topics, the participants prepared a road map for Islamic Finance that may be considered for the drafting of the BSFB. During the process, the ARMM Islamic Finance Sub-Cluster has been identified as a body that shall be responsible for pushing the Islamic Finance Agenda and for the formation of a TWG that will give details to the road map and craft policies for the creation of an enabling environment for Islamic Finance in the region.

 

BSFB is the major output of the “Brokering Business Investments in the Bangsamoro to achieve Inclusive Development and Growth” (Bridge) Project implemented by the Philippine Business for Social Progress (PBSP) and the Hineleban Foundation in collaboration with ARMM Economic Cluster headed by RBOI-ARMM.