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PIA Press Release

DBP, AAIIBP officers undergo training on Islamic banking

Manila (12 October) -- Seventeen officers from state-owned Development Bank of the Philippines (DBP) and the Al Amanah Islamic & Investment Bank of the Philippines (AAIIBP) attended a one-week seminar-workshop on Islamic Banking and Finance recently in Kuala Lumpur, Malaysia to equip themselves with the right knowledge and understanding of Shariah banking.

Led by AAIIBP chairman and chief executive officer Armando Samia, the participants underwent an intensive and comprehensive training consisting of lectures by topnotch experts on Islamic Banking, case studies and group discussion and project visitation to Bank Negara Malaysia and Bank Islam Malaysia Berhad.

The topics covered by the seminar-workshop included an overview of the Islamic financial system, Shariah fundamentals, roles and functions of the Central Bank / legal and regulatory framework, and Islamic banking principles and operations. The group also tackled topics such as roles and responsibilities of Shariah advisers, Islamic insurance (Takaful), Islamic banking products, financing models, Islamic asset financing, Islamic cash financing, Islamic trade financing, Islamic project financing, Islamic corporate financing, legal documentations for Islamic financing facilities, Islamic money market and Islamic capital market.

Other topics discussed during the workshop-seminar were success factors in marketing of Islamic banking products, building customer relations, organization structure and governance, operational issues, Islamic treasury management, accounting treatment in Islamic finance, Shariah risk management and Shariah audit and compliance.

The seminar-workshop was organized by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and MNY Consulting SD BHD in collaboration with ZI-ShariahAdvisory Services SDN BHD. (PIA-MMIO) [top]

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