The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) officially launched on Monday, December 2, its Islamic Finance Roadmap 2024-2028 for the BARMM.

 

BARMM Chief Minister Ahod B. Ebrahim was joined by Wali of the Bangsamoro Sheikh Muslim M. Guiamaden; Technical Working Group for Islamic Finance (TWG-IF) Chair Mohammad S. Yacob; Minister of Finance, and Budget and Management (MFBM) and TWG-IF Vice Chair Ubaida C. Pacasem; Bangsamoro Mufti Sheikh Abdulrauf A. Guialani; and Deputy Chief Minister Ali B. Solaiman during the unveiling of the Roadmap and sounding of the gong.

 

During the ceremonial unveiling of the Roadmap, Ebrahim underscored the journey of the Bangsamoro Government in the development of Islamic Finance in the region. “On March 26, 2021, we created the Technical Working Group for Islamic Finance in the Bangsamoro Autonomous Region through the issuance of OCM Memorandum Circular No. 12 primarily to develop a roadmap on the promotion and development of Islamic finance within an integrated Halal economy for the Bangsamoro Government. As we are gathered here today, we commend the Technical Working Group for completing this very important task”, he said.

 

He added that the Bangsamoro Government envisions that by 2028, BARMM shall have a functional and operational Islamic finance system, guided by the principles of moral governance, that will contribute to the improvement of the financial well-being of the people.

Minister Pacasem strongly believes that by developing and establishing an Islamic financial system that aligns with Bangsamoro’s needs, values, and identity, we are able to address and overcome these gaps and empower our communities.

 

“Guided by the principles of Moral Governance, this roadmap is our comprehensive blueprint to develop a functional and operational Islamic finance system in BARMM by 2028,” Pacasem emphasized.

 

Members of the Parliament, the Academe sector, the Business sector, as well as partner agencies showed their immense support to the initiative.

 

The BARMM economy continues to evolve with the expected full spectrum of the Islamic Finance Roadmap by 2028. This shall empower financial institutions to offer Shari’ah-compliant services, as well as inclusive and ethical banking products.

 

#MFBM #mfbmbarmm #BARMMGovernment #BARMM #IslamicFinance #sabawatsentimobangsamoroangsentro