50325-001: Islamic Finance for the Philippines | Asian Development Bank

Philippines: Islamic Finance for the Philippines

Sovereign (Public) Project | 50325-001 Status: Proposed

The proposed knowledge and support technical assistance (TA) will enable responsible growth of the Islamic finance model as an additional vehicle for savings, partnered lending, bonds, leasing, and other financial services in the Philippines through the development of a regulatory framework appropriate for sustainable Islamic finance operations and capacity building activities for selected regulators in the country.

Project Details

Project Officer
Syed, Asghar Ali Office of the General Counsel Request for information
Country
  • Philippines
Sector
  • Finance
 
Project Name Islamic Finance for the Philippines
Project Number 50325-001
Country Philippines
Project Status Proposed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA: Islamic Finance for the Philippines
Technical Assistance Special Fund US$ 550,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Knowledge solutions
Sector / Subsector

Finance / Finance sector development

Gender Equity and Mainstreaming No gender elements
Description The proposed knowledge and support technical assistance (TA) will enable responsible growth of the Islamic finance model as an additional vehicle for savings, partnered lending, bonds, leasing, and other financial services in the Philippines through the development of a regulatory framework appropriate for sustainable Islamic finance operations and capacity building activities for selected regulators in the country.
Project Rationale and Linkage to Country/Regional Strategy
Impact The promotion and acceleration of the socio-economic development of the Philippines through the creation of Islamic banks and designated Islamic banking units.
Outcome Expansion of Islamic financial services in the Philippines under a suitable legal and regulatory environment
Outputs

1. Regulatory framework for Islamic finance of acceptable quality developed

2. Regulatory and market capacity to deliver Islamic financial services strengthened

Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services

Regulatory Specialist (international, 5 person-months, intermittent)

Financial Education Specialist (international, 5 person-months, intermittent)

Legal and Regulatory Specialist (national, 8 person-months, intermittent)

Project Logistics & Coordinator (national, 8 person-months, intermittent)

Procurement No procurement is anticipated under the TA
Responsible ADB Officer Syed, Asghar Ali
Responsible ADB Department Office of the General Counsel
Responsible ADB Division Office of the General Counsel
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
Bangko Sentral ng Pilipinas
Rm. 301, 3rd Floor, 5-Storey Bldg.
A. Mabini cor. Vito Cruz Extension
Malate, Manila, Philippines
Timetable
Concept Clearance 22 Sep 2017
Fact Finding 30 Sep 2016 to 30 Sep 2016
MRM -
Approval -
Last Review Mission -
Last PDS Update 22 Sep 2017

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Safeguard Documents See also: Safeguards

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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