Philippine Embassy in Riyadh Promotes Financial Literacy through Islamic Banking
Banko Sentral ng Pilipinas Assistant Governor Arifa Ala (left) and CDA Rommel Romato (right) during Riyadh PE’s Briefing on Islamic Banking
RIYADH 04 September 2023 – The Philippine Embassy in Riyadh hosted an in-person briefing on Islamic banking at its Chancery on 17 August 2023.
Islamic banking has gained significant prominence in recent years, attracting attention for its ethical and Shariah-compliant financial practices. The briefing aimed to provide an understanding of the principles, concepts, and practices of Islamic banking to those with a general interest in knowing the subject.
Bangko Sentral ng Pilipinas Assistant Governor Arifa Ala, a distinguished expert in the field of Islamic banking, delivered an insightful and interactive talk that engaged participants in thoughtful discussions on the different aspects of the rapidly growing Islamic finance sector. The BSP official noted the growth of Islamic banking in the Philippines and its potential benefits for the country. She underlined that Islamic banking is a business model that can be beneficial to all banking clients regardless of religion.
The event contributed as well to the promotion of financial literacy among the participants. By educating them about ethical finance practices and Shariah-compliant financial products, attendees were better equipped to make informed financial decisions. END
BSP Assistant Governor Arifa Ala discusses Islamic banking with the participants
Riyadh PE personnel and dependents who joined the briefing on Islamic banking
Participants share their views during the briefing on Islamic Banking
Assistant Governor Arifa Ala (third from the right) is joined by Charge d'Affaires Rommel Romato (second from the right) and spouse Dr. Nizhreen Romato (third from the left), Vice Consul Francis Torres (rightmost), Vice Consul Aldrick Timbol (leftmost) and spouse Josefina Timbol (second from the left).
For more information, visit https://www.riyadhpe.dfa.gov.ph or https://www.facebook.com/PHLinKSA, https://twitter.com/PHLinKSA or https://www.instagram.com/phlinksa/