Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Wednesday, 22 November 2017 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << November 2017 >> 
S M T W T F S
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2008/11/24

ARMM to set-up Islamic Bank

ICC-Cotabato City (24 November) -- An Islamic bank will be set-up soon in the Autonomous Region in Muslim Mindanao (ARMM).

ARMM Regional Government Datu Zaldy U. Ampatuan bared this during his 4th State of the Regional Address (SORA) last Monday afternoon and held at the Shariff Kabunsuan Complex here.

Ampatuan said the bank once in place will attract foreign investors from Muslim countries.

He said a "start-up capital for the bank of P20-billion" will be pooled from the resources of the regional and local government units.

"This bank shall also serve as an official depository bank of ARMM agencies and local government units (LGUs). This bank will surely be a viable investment," Ampatuan explained.

ARMM Deputy Executive Secretary Atty. Ishak V. Mastura, said on Tuesday they hope to establish the bank through an act that will be legislated by the Regional Legislative Assembly (RLA) which act shall jibe with the rules of the Bangko Sentral ng Pilipinas (BSP).

"The establishment of an Islamic Bank in the ARMM is still under study, "Mastura, the region's former Trade and Industry" secretary said.

One of the reasons why the regional government is pushing for the establishment of Islamic bank is the crunch that lately hit mainstream international commercial banks, he said.

"The Islamic banking system was able to maintain its credibility as it was spared from speculation," Mastura pointed out.

RG Ampatuan, who made history as the first ARMM governor to be re-elected, said the regional government's thrust in the next three years will be focused in harnessing the areas economic potentials to uplift the poverty level in the autonomous region. (MCD/RICC Cotabato City) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»National Biotechnology Week on Nov 24-28 highlights Filipino biotechnology
»Helping to end violence against women is responsibility of all people, UN says
»Lady senator vows to sponsor a bill on womenomics
»NKTI celebrates 25 years of saving lives by honoring partners in service
»Another ASG member seized in Sulu
»APEC countries to continue support for SMEs
»PGMA to bat for labor mobility among APEC countries
»APEC leaders call for early conclusion of Doha Round of Talks
»PGMA orders immediate assistance to flood victims in Cagayan, Isabela
»Charter Change moves begin, end with Congress - Palace
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines