Philippines central bank approves preliminary Islamic banking regulations
Bangko Sentral Ng Pilipinas, the central bank, has approved preliminary regulations for Islamic banks and Islamic banking units, it said in a statement on Friday (Jan 3).
The preliminary policy initiatives of the central bank came after the Islamic banking law was signed by President Duterte on August 22 and became effective on September 15.
The preliminary regulations are to jumpstart the implementation of the law, said the BSP.
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