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Philippines to miss Islamic finance boom in Asia this year

Posted on 02 February 2010

From Bworldonline.com: An official of the lone Islamic bank in the country said the Philippines would not be participating in the Islamic finance boom development, since the focus of the Al-Amanah Islamic Investment Bank of the Philippines remains informing the public about Islamic banking and crafting rules that are consistent with its unique characteristics.

Maharlika J. Alonto, head for accounting and finance at Al-Amanah said: “This type of banking is an alien notion to the public. [They don’t know the difference] between Islamic banking and the conventional one.”………………………………….Full Article: Source

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