BSP moves to build Islamic finance market

Bangko Sentral ng Pilipinas

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is easing some regulatory requirements and offering temporary incentives to help build a market for Islamic financial instruments, as it seeks to expand Shari’ah-compliant banking in the country.

The central bank is seeking comments from supervised financial institutions on a draft circular that will establish rules for sukuk transactions, or Islamic bonds.

READ: Can Amenah Pangandaman continue reforms in PH’s sole Islamic bank?

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