New Islamic banking unit gets BSP license
New Islamic banking unit gets BSP license
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NewsTranscript
00:00The Banco Central ng Pilipinas, or BSP, announced Maybank Philippines Inc. commenced its Islamic
00:07banking operations on August 14 after receiving Islamic Banking Unit, or IBU, license on July 4.
00:15BSP Managing Director Judit Sungsay noted,
00:18Maybank's IBU represents a key development in advancing the country's Islamic finance sector.
00:24Moreover, the central bank supports the entry of new players in Islamic banking
00:30as part of its broader goals of promoting financial inclusion and supporting economic growth.