In its year-end report on financial inclusion initiatives, the Bangko Sentral ng Pilipinas (BSP) noted certain initiatives and developments relative to Islamic banking in the Philippines. At the outset, the BSP confirmed its continuing policy studies to implement the provisions of the Islamic Banking Law (Republic Act No 11439) on prudential reporting, liquidity, leverage and capital adequacy for stand-alone Islamic banks as well as Islamic banking units within conventional banks. Corollary to this and as part of the initiative in....