A team at the Ministry of Human Settlements and Development, the Housing Arm of the BARMM, led by Director General Esmael W. Ebrahim, welcomed the top official of the Al Amanah Islamic Bank and explored possible partnership at a meeting held at the Conference Room, MHSD Regional Office, Bangsamoro Government Center, Cotabato City on October 16, 2024.

Director General Ebrahim and Chief Executive Officer (CEO) Amilbahar P. Amilasan, Jr. led the discussions, introducing the mandate and services of the MHSD and Al Amanah Bank, respectively.

Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) is a universal bank authorized to perform and provide Islamic banking, financing and investment services pursuant to R.A. 6848, otherwise known as the Charter of the Al-Amanah Islamic Bank of the Philippines of 1990. In 2008, AAIIBP became a subsidiary of Development Bank of the Philippines, owning 99.9% of its capital stock, which introduced its current logo and tag name ‘Amanah Islamic Bank’.

Highlights of the meeting included the processing of payments of housing units under the MHSD’s Housing Loan Projects, in which the Amanah Bank may introduce Islamic Financing procedures to ensure the payments are Shari’ah compliant.

Further discussion will be needed to ensure the legalities and finetuning of procedures should the partnership enter the signing stage, as both parties displayed positive outlooks on the possibility.

Also participating in the meeting were Salem C. Demuna, REA, Director II for Operations and Management Services, Hamzah A. Salik, Provincial Director of MHSD-Special Geographic Areas, Atty. Nasihah S. Mamarungcas, RSW, Legal and Legislative Liaison Section Head, Engr. Zainodin A. Buisan, Chief of the Planning and Design Division, Yasser S. Mama, Chief of the Monitoring and Evaluation Division, LArc. Jehanna M. Abdulkarim, Chief of the Policy Development, Coordination, and Regulation Division, John Anthony M. Ocumen, Internal Planning Section Head, Jasmin M. Macarimbang, Accounting Section Head, Sharabai B. Hasim, Budget Section Head, Nasibah S. Pangca, Cash Section Head and Tyrone Luis A. Agcambot, Human Resource and Management Section Head.