Maybank Islamic banking unit has begun operating

Quick Summary:

THE Islamic banking unit (IBU) of the first commercial bank in the Philippines to receive its license has begun its operations, according to the Bangko Sentral ng Pilipinas (BSP).

The law is the legal basis for the establishment of Islamic banks and IBUs.

The BSP said it has already granted an IBU license to Maybank Philippines Inc., the second it has granted to any financial institution in the country.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: Banks Banking Bank Operations Development Maybank Granted Philippines Islamic Financial License

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-04 @ 17:32:15 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 529 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22369178

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 73 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 13 hours ago

Coverage Areas: Philippines

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Publisher ID: #37

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