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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Philippines: Middle East banks eye Al-Amanah

Posted on 18 October 2012

The government expects to privatize Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), the only bank in the country authorized to offer Islamic banking services, in a year as two Middle Eastern banking institutions are seriously in their acquisition bid.
AAIIBP, now a subsidiary of Development Bank of the Philippines, has been put on sale by the government for a year already. Trade and Industry undersecretary Cristino L. Panlilio revealed that Al-Amanah is one banking institution in the country that Middle Eastern investment banking companies are looking into………………………………………..Full Article: Source

 
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