COTABATO CITY – The Ministry of Agriculture, Fisheries, and Agrarian Reform and the Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) had made the signing of the memorandum of agreement in Cotabato City on September 25, 2024.
The agreement pertains to the partnership between the ministry and AAIIBP especially in the administration of the MAFAR Loan for Enhancement of Necessary Development Strategies (MAFARLENDS), promotion of Islamic Financial Literacy in the region, and other programs.
During the MOA signing, Minister Mohammad S. Yacob, Ph.D., and the AAIIB were represented by Chairman/CEO, AAIIBP Amilbahar P. Amilasan, Jr led the activity.
Minister Yacob expressed his thanks and gratitude to Al-Amanah Islamic Investment Bank of the Philippines for the overwhelming support and commitment in facilitating the implementation of the Islamic Financing Bank to the ministry.
He said the beginning of our long-awaited journey to handle the funds of the Bangsamoro through a legitimate financing institution based on moral governance is finally happening through our MOA signing.
“We know that only Al-Amanah Bank has been established to facilitate the implementation of Islamic financing and banking transactions in the country, specifically in the Bangsamoro region,” Minister Yacob added.
Meanwhile, the Chairman/CEO, of AAIIBP Amilbahar P. Amilasan, Jr. is thankful that they have given a role and part in this MAFAR program. He gave his full support and assurance in the implementation of the program guided by Moral Governance. He emphasized in his message “Kasama niyo po kami na maiparating sa ating mga kapatid ang kabahuyan na inaasam nila”.
He said MAFARlends is one of the projects that we will be handling the funds to manage and monitor the beneficiary’s loans so that it will be implemented through the goals of MAFAR.
“The Al-Amanah Bank is grateful for the opportunity that the MAFAR has given. We will have a role to be MAFARamdam at MAFAR-unlad ang Bangsamoro.
This initiative is part of a broader effort to improve the socio-economic conditions of the Bangsamoro Farmers and Fisherfolks of the region.
Present during the signing of the memorandum were the Chief of Staff of MAFAR-BARMM, Arphia T. Ebus, Director General for Agrarian Reform Services, Dr. Taugan T. Kikay, Director General for Fisheries Services, Pendatun Patarasa, MPA, Director II for Agriculture Regulatory and Quarantine Services, Jamer M. Guimba, AMAD Chief Agriculturist Datu Hamsur J. Zaid, Head, AAIIB-Operations Sector, Atty. Jomaila G. Rangiris and other officials from both parties.
