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Maybank Philippines Inc. launched its Islamic banking operations on Aug. 14, 2024 following the grant of authority from the Bangko Sentral ng Pilipinas .Under the BSP regulations, an IBU is a division, department, office or branch of a conventional bank that operates in accordance with Shari’ah principles.
BSP managing director Judith Sungsai said the integration of Islamic banking in Maybank’s operations is a significant milestone in the development of Islamic finance in the Philippines.
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