The Development Bank of the Philippines (DBP) is to sell its stake in the country’s sole Islamic bank, the Al-Amanah Islamic Investment Bank of the Philippines (Al-Amanah), as it does not have the expertise in Islamic finance.
The DBP has now obtained the Bangko Sentral ng Pilipinas’ approval to sell its 99.88 per cent stake in Al-Amanah. “We have obtained the approval in principle for the divestment of our stake in Al-Amanah,” said Estrella E. Icasiano, DBP senior vice president and head of investment banking and capital markets group said………………………………………..Full Article: Source