Philippine central bank develops Islamic finance system.

BANKING AND CREDIT NEWS-October 19, 2023--Philippine central bank develops Islamic finance system

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Global Banking News - 19 October 2023

The Philippines central bank has developed an Islamic finance system.

The central bank said that the system would benefit all Filipinos. The Bangko Sentral ng Pilipinas has stepped up its promotion of Islamic finance in the country following a decision in August by the nation's monetary board to approve the first Islamic banking unit license for a traditional bank.

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