PHILIPPINES - BANKING - Enabling Islamic finance in the Philippines

www.manillatimes.net - FINANCIAL institutions from the United Kingdom are at the forefront of showcasing the possibilities and capabilities of Islamic Finance (IF) commercial operations, and the opportunities offered by the growing global demand for Sharia-compliant financial instruments—with British Ambassador Stephen Lillie as a significant supporter.

The participating banks— KPMG, HSBC, PruLife UK, and Standard Chartered—shared their expertise with members of the Philippines financial sector at a forum organized by the British Embassy where Lillie was a keynote speaker. The banks played a role in legal reforms that support Islamic Finance in the UK that were instrumental in propelling its status as the most successful non-Islamic country in Islamic banking. (source)