- Philippines
- Zamboanga City
- Financial Activity
- Al-Amanah Islamic Investment Bank of the Philippines
Al-Amanah Islamic Investment Bank of the Philippines - Zamboanga City
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AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILIPPINES (AAIIBP)AAIIBP is the only bank in the Philippines authorized to offer Islamic banking. It is also licensed to do both commercial and investment banking services, similar to a universal bank.Historical Background:1973 - By virtue of Presidential Decree (PD) No. 264, (then) President Ferdinand E. Marcos issued the creation of the Philippine Amanah Bank (PAB). The decree required the bank to invest 75% of its total loanable funds for the purpose of providing, among others, medium and long term credit facilities at reasonable term to the people of the ten (10) primarily Muslim-dominated provinces in the country which include the provinces of Cotabato, South Cotabato, Lanao del Sur, Lanao del Norte, Sulu, Basilan, Zamboanga del Norte,