Regulatory Alerts2025-10-17
Circular No. 1219: Amendments to Prudential Regulatory Guidelines in Islamic Banking
The Bangko Sentral ng Pilipinas issued Circular No. 1219 to amend the Manual of Regulations for Banks regarding the establishment, governance, and licensing of Islamic banks and Islamic banking units. The directive mandates consolidated liquidity reporting for Islamic banking units within conventional banks and introduces specific eligibility criteria for Sukuk as high-quality liquid assets. Additionally, it establishes a three-year observation period for new Islamic banks to facilitate system enhancements before full implementation of prudential reporting requirements.
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