Featured image above shows Finance Secretary Frederick Go with a Plaque of Appreciation from NCMF Secretary Sabuddin N. Abdurahim during the 5th IIFC. They are flanked by BMEA Director Saleha P. Sacar and NCMF Executive Director Tahir S. Lidasan, Jr. (Photo: SDN)
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MANILA, February 5, 2026 (SDN) — A sort of a self-fulfilling prophecy has come true by way of the National Commission on Muslim Filipinos (NCMF)!
As it happened, the NCMF headed by Secretary/CEO Sabuddin N. Abdurahim staged the 5th International Islamic Finance Conference (IIFC) on February 1 to 3 at the Shangri-La The Fort Manila in Bonifacio Global City, Taguig City, Metro Manila.
Attended by local and foreign experts and advocates of Islamic finance, a growing phenomenon across the world, the conference sought to provide “a strategic platform to align stakeholders and advance ecosystem strengthening efforts, reinforcing the country’s strategies as a rising Islamic finance player in the region”, in reference to 11-member the Association of Southeast Asian Nations (ASEAN).
The Bureau of Muslim Economic Affairs (NCMF-BMEA) led by Director Saleha Pangarungan Sacar organized and hosted the highly successful event.
Its theme revolved around the “Philippines as a Rising Hub: Strengthening the Islamic Finance Ecosystem for ASEAN International and Inclusive Growth”.
Read: NCMF Secretary/CEO Sabuddin Abdurahim Hails PH for Taking Deliberate Steps to Integrate Islamic Banking & Finance in Nat’l Financial Architecture
In his speech at the event, Abdurahim emphasizes “the Philippines has taken deliberate steps to integrate Islamic banking and finance into its national financial architecture.”
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. cited in his message the need for the country to have a wider access to Shari’ah-compliant financial products and services to achieve inclusive economic growth.
“The Philippines has already made significant progress. The Islamic Banking Law is in place. Islamic banking and takaful players have entered the market. We have successfully issued our maiden sovereign sukuk bonds,” Remolona underscored.
Over in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the BSP governor said the Bangsamoro region already has its Shari’ah Supervisory Board.
Likewise, inter-agency coordination on Islamic finance continues to strengthen. These milestones show our commitment to reinforcing the Philippines’ participation in the regional Islamic finance landscape,” Remolona points out, even as he assured the BSP will continue work closely with the Commission as well as other stakeholders to build market capacity, enhance technical expertise, and support new players’ entry.
Well, not only that, as it happens now.
Only a day after the 5th IIFC’s conclusion, the BSP issued Circular No. 1219 Series of 2025 that amended the prudential regulatory guidelines in Islamic banking. which opens to all banks the application for authority to operate Islamic banking units.