Promoting Islamic banking and finance in the country is met with challenges, but the Bangko Sentral ng Pilipinas remains up to the task given its commitment to the financial inclusion agenda.
“The promotion of Islamic banking and finance is paramount because it can provide access to alternative financial products and services to all Filipinos. Given the enabling regulations and initiatives that the BSP has put in place, I am excited about the future and confident that the time will come when Islamic banking and finance is a thriving industry in the Philippines.”
The BSP official chairs the Islamic Finance Coordination Forum , which facilitates collaboration and coordination among government agencies on the promotion of Islamic banking and finance. Assistant Governor Ala’s contributions to the development of the Philippine banking system have been recognized internationally. She received the WOMANi Professional Award for 2022 from the Cambridge Institute of Islamic Finance for being one of the most influential women in Islamic business and finance. This recognition was given during ceremonies held on 12 December 2022 in Jakarta, Indonesia.
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