Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. highlights the Philippines’ vast potential as an investment destination for Islamic finance during the launch of an Asian Development Bank (ADB) report in Makati City on Nov. 26, 2024. The ADB report titled ‘Unlocking the Potential of Islamic Finance in the Philippines: A Market Analysis and Landscape Report’ cited the country’s growing economy; the government’s drive for financial inclusion; the market from 29 percent of unbanked Philippine cities and towns; substantial financing needs of micro, small, and medium enterprises; and strong interest of Filipino businessmen and retail clients in using Islamic financial services.
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