MFBM embarks on Islamic Finance Capacity Development in BARMM
Committed to having longstanding programs to enhance financial inclusion and stability in the Bangsamoro region, the Ministry of Finance, and Budget and Management (MFBM), together with the Office of MP Anna Tarhata Basman, members of BARMM-Islamic Finance Technical Working Group and Secretariat, and representatives of the Bangko Sentral ng Pilipinas, have recently concluded the three-day Shariah Finance Framework Executive Programme which began last September 1 and ended on September 3, 2021 through a virtual conference.
The Programme provided an in-depth discussion on the key elements of Shariah Finance Framework which include Islamic Finance Regulatory Framework, Islamic Banking System, Islamic Social Finance, Takaful, Shariah Governance, and Hajj Management. This strategic goal was aimed to address the needs of the underserved Muslim population in the BARMM by focusing on their socioeconomic needs.
The MFBM continues to support and implement, among others, capacity development programs in pursuit of the realization of Islamic Finance in the Bangsamoro region.
The Programme was conducted by the Malaysian Technical Cooperation Programme (MTCP) in partnership with International Centre for Education in Islamic Finance (INCEIF).