Philippines to miss Islamic finance boom in Asia this year

DEBT WATCHER Standard & Poor’s said Islamic finance growth will stay strong this year, as demand for financial products that comply with Islamic or Sharia law continues to increase with Southeast Asia driving expansion.

The Al-Amanah Islamic Investment Bank wants to educate the public of the difference between Islamic Banking and Conventional Banking while creating the regulatory framework for Islamic Finance and ironing out the taxation issues relating to islamic finance.