09/10/2026
๐๐ฆ๐๐๐ ๐๐ ๐๐๐ก๐๐๐ก๐ ๐๐ก๐ ๐๐๐ก๐๐ก๐๐ ๐๐๐ฅ๐๐ฉ๐๐ก ๐๐ฅ๐๐ก๐๐ฆ ๐๐ง๐๐๐๐๐, ๐๐ก๐๐๐จ๐ฆ๐๐ฉ๐ ๐๐๐ก๐๐ก๐๐๐ก๐ ๐๐๐ข๐ฆ๐๐ฅ ๐ง๐ข ๐ ๐๐ก๐๐๐ก๐๐ข | For many Filipinos, Islamic banking has never been a real choiceโnot necessarily because they rejected it, but because it remained unavailable or unfamiliar in their communities. For others, it has long been perceived as a financial system exclusively for Muslims. Yet Islamic banking offers a broader proposition: a Shariโah-compliant approach to finance grounded in principles of fairness, ethical transactions, responsible financing, and shared prosperity that can serve both Muslims and non-Muslims.
Bridging this gap between limited access, public perception, and actual opportunity was at the heart of the second leg of the Islamic Banking and Finance Caravan, held on October 5, 2026, at Acacia Hotel in Davao City. Following its first leg in Isabela City, Basilan, in August, the caravan continued its mission of bringing Islamic banking and finance closer to communities across Mindanao.
The Davao gathering brought together more than a hundred representatives of community-based organizations and stakeholders, including government representatives, Islamic finance advocates, financial institutions, insurance providers, and other partners, to deepen public understanding of Islamic finance and explore its potential to expand financial inclusion.
Convened by Isabela City Mayor Sitti Djalia Turabin-Hataman through the Islamic Banking and Finance Advocacy Network (ISBFAN), the caravan brought together key players in the countryโs emerging Islamic finance ecosystem. It featured discussions on the national framework for Islamic banking, Shariโah-compliant financial services, and Islamic financial and Takaful products available to communities.
๐ ๐ฎ๐ธ๐ถ๐ป๐ด ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ ๐บ๐ผ๐ฟ๐ฒ ๐ฎ๐ฐ๐ฐ๐ฒ๐๐๐ถ๐ฏ๐น๐ฒโ๐ฎ๐ป๐ฑ ๐บ๐ผ๐ฟ๐ฒ ๐บ๐ฒ๐ฎ๐ป๐ถ๐ป๐ด๐ณ๐๐น
In her welcome message and presentation of the caravanโs rationale, Mayor Hataman emphasized that Islamic banking should not remain a concept understood only by financial institutions or specialists.
It needs to reach the communities that can benefit from it.
For families, farmers, fisherfolk, young people, and entrepreneurs, understanding available financing options can mean gaining the capacity to start a livelihood, expand a small enterprise, invest in education, or build greater financial security.
For Mayor Hataman, bringing Islamic banking and finance closer to communities is therefore part of a larger conversation about financial inclusion, economic opportunity, and sustainable development.
She underscored the importance of stronger collaboration among government, financial institutions, businesses, and communities to make ethical and Shariโah-compliant financial services more accessibleโnot only in the Bangsamoro and Mindanao, but to Filipinos regardless of faith.
But despite the progress made in establishing the legal and regulatory foundations of Islamic banking, Mayor Hataman acknowledged that a significant challenge remains: ensuring that these services translate into meaningful participation and actual benefits for communities.
โWhile we have successfully engineered the legal and regulatory framework, a significant gap remains between systemic availability and community optimization,โ she said.
โAlhamdulillah, nagawa natin yung batas, na-lay down ng BSP ang mga kailangang infrastructure. Pero bakit kulang, lalung-lalo na ang mga Muslims ang nag-a-avail ng Islamic banking? So, naisip namin, hindi pa tapos ang trabaho namin.โ
Her remarks captured the central motivation behind the caravan. While legislation and regulatory infrastructure have laid the groundwork for Islamic banking in the Philippines, the availability of financial products does not automatically mean that people know about them, understand how they work, or feel confident using them.
For Mayor Hataman, the next step is to bridge this gap between institutional readiness and community-level participation. This means strengthening public awareness, bringing financial institutions closer to potential clients, and helping communities understand how Shariโah-compliant financial services can respond to their needs.
The message was clear: financial inclusion is not simply about opening the doors of a bank. It is about ensuring that people can enter those doors and find financial services that respond to their needs, circumstances, and values.
๐ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐๐๐๐ฒ๐บ ๐ฟ๐ผ๐ผ๐๐ฒ๐ฑ ๐ถ๐ป ๐ณ๐ฎ๐ถ๐ฟ๐ป๐ฒ๐๐
The call for accessible Islamic finance was echoed by Basilan Governor Mujiv S. Hataman, represented at the caravan by Board Member Ahmed Ibn Djaliv Hataman.
He expressed support for developing a stronger Islamic finance ecosystem in Mindanao and throughout the Philippines, emphasizing its potential to provide Muslim families, students, and entrepreneurs with financing options that respect their religious principles.
He particularly highlighted the experience of students in Basilan who face the burden of high-interest loans, pointing to the potential of Islamic finance to provide alternatives anchored on principles of fairness and equity.
The discussion placed Islamic finance in a broader context: access to appropriate financing can influence whether a student can continue studying, whether an entrepreneur can expand, or whether a family can invest in a livelihood.
For communities that have historically faced barriers to formal financial services, the availability of suitable financial products can become an important pathway toward greater economic participation.
๐ ๐ผ๐ฟ๐ฒ ๐๐ต๐ฎ๐ป ๐ฏ๐ฎ๐ป๐ธ๐ถ๐ป๐ด
For Queenie Padilla, halal advocate and aspiring entrepreneur, the promise of Islamic finance extends beyond conventional banking transactions. It is rooted in a deeper understanding of wealthโnot simply as something to accumulate, but as a responsibility to be managed with integrity and consideration for others.
โWealth is an amanah, a trust. What we earn and how we earn it and how it affects others all matters,โ Padilla emphasized.
Her statement reflects a fundamental principle of Islamic finance: wealth carries a responsibility. How it is acquired, managed, and used matters not only to the individual but also to the wider community.
She emphasized the potential of Islamic finance to support farmers, fisherfolk, families, young people, and entrepreneurs seeking to grow financially without compromising their values.Financial inclusion becomes meaningful when people understand their options and feel confident that financial institutions can respond to their aspirations and realities.
๐๐ฟ๐ผ๐บ ๐๐น-๐๐บ๐ฎ๐ป๐ฎ๐ต ๐๐ผ ๐ฎ ๐ป๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐๐น๐ฎ๐บ๐ถ๐ฐ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ ๐ณ๐ฟ๐ฎ๐บ๐ฒ๐๐ผ๐ฟ๐ธ
Providing the national perspective was Atty. Arifa Ala, Senior Assistant Governor of the Financial Supervision Sub-Sector III of the Bangko Sentral ng Pilipinas (BSP), who presented the National Framework on Islamic Banking.
Her presentation traced the development of Islamic banking in the Philippinesโfrom the establishment of Al-Amanah Islamic Investment Bank in 1973 to the enactment of Republic Act No. 11439, or the Islamic Banking Law of 2019.
The law marked a significant step in expanding the countryโs Islamic banking landscape by establishing a broader regulatory framework for Islamic banking and enabling conventional banks to offer Islamic banking services under applicable regulations.
The national framework seeks to develop an Islamic financial system that is credible, competitive, sustainable, properly regulated, and accessible, while operating alongside the countryโs conventional banking system.
It also provides space for the development of Shariโah-compliant governance mechanisms, Islamic financial products, Takaful, Sukuk, and other Islamic capital-market instruments, alongside appropriate regulatory and tax arrangements.
For Mindanao, the framework opens a conversation that goes beyond banking itself: how government, financial institutions, businesses, communities, and the Bangsamoro Government can work together to build an ecosystem where Islamic finance can become more accessible and responsive to real economic needs.
๐๐ฟ๐ผ๐บ ๐ฝ๐ฟ๐ถ๐ป๐ฐ๐ถ๐ฝ๐น๐ฒ๐ ๐๐ผ ๐ฝ๐ฟ๐ผ๐ฑ๐๐ฐ๐๐
The caravan also moved the conversation from policy to practice.
Messages of support were delivered by Sheikh Rayyan Tiana, School Director of Barhanuddin Peace Learning Institute; Al-Ikhram Pandangan, OIC/Department Head for Branch Banking Services of Al-Amanah Islamic Investment Bank of the Philippines; Mark Conrad Ravanzo, Islamic Banking Marketing and Partnership Manager of Maybank Philippines, Inc.; and Hadiguia Lumambas, Assistant Compliance Officer of CARD Bank, Inc.
Also sharing messages were Maricel Estavillo, Vice President for Sustainability and Takaful Head of Pru Life UK Philippines, and Clint Lloren, Takaful Division Head of Stronghold Insurance Company, Inc.
The program culminated in a Products and Services Spotlight, where representatives from Al-Amanah Islamic Investment Bank of the Philippines, Maybank Philippines, CARD Bank, Pru Life UK Philippines, and Stronghold Insurance presented their respective Islamic financial and Takaful offerings.
The segment gave participants an opportunity to see how the principles discussed throughout the day translate into actual financial products and services, helping bridge the gap between public awareness and practical financial choices.
๐๐๐ถ๐น๐ฑ๐ถ๐ป๐ด ๐ฎ ๐ณ๐๐๐๐ฟ๐ฒ ๐ผ๐ณ ๐ถ๐ป๐ฐ๐น๐๐๐ถ๐๐ฒ ๐ฝ๐ฟ๐ผ๐๐ฝ๐ฒ๐ฟ๐ถ๐๐
The significance of the caravan lies not only in the discussions held inside the conference room, but in the possibilities that extend beyond it.
The participation of more than a hundred representatives from community-based organizations and various stakeholder groups underscored the importance of bringing financial education and institutional partnerships closer to the communities they are intended to serve.
In Mindanao, where communities are pursuing livelihood opportunities, entrepreneurship, education, agricultural development, and economic growth, access to appropriate financing can be an important part of that journey.
Islamic finance offers one avenue for expanding that accessโgrounded in principles of ethical finance and Shariโah compliance, while remaining part of a broader national financial system. Importantly, its potential audience is not limited to Muslims.
The caravan highlighted Islamic banking and finance as an opportunity for both Muslim and non-Muslim communities to learn about financial products designed around principles such as fairness, responsible financing, and ethical economic activity.
Ultimately, the Islamic Banking and Finance Caravan was a conversation about more than money. It was about opening opportunities. About helping a young person pursue an education, a farmer strengthen a livelihood, a fisher expand an enterprise, or an entrepreneur take the next step. And about building a financial system where inclusion means not only having accessโbut having meaningful choices.
For Mayor Dadah, the work remains unfinished until the legal and regulatory foundations of Islamic banking translate into greater awareness, wider participation, and meaningful economic opportunities for the people who need them.
For Mindanao, that conversation is only beginning. #
