JICA updates on the implementation of Islamic Finance

COTABATO CITY- The Japan International Corporation Agency met Minister of Agriculture, Fisheries, and Agrarian Reform Mohammad S. Yacob, Ph.D., to update the implementation of Islamic Finance in the Bangsamoro Region.

On Wednesday, October 19, JICA HARVEST Team Leader Manabu Tsurutani led the activity with Sub-Team Leader Makoto Hoshi, Environmental Specialist Hisaku Sumi, Head of DC Office Merly Cruz, Environmental Specialist Diana Velasco, Executive Secretary Cindy Lopez, MFBM and the technical working group on Islamic Finance.

Minister Yacob is the Chairman of TWG- IFB BARMM, in which Islamic finance is a financing activity that must comply with Shari’ah (Islamic Law). The concept can also refer to the investments that are permissible under Shari’ah.

Meanwhile, the Harnessing Agri Business through Robust and Vibrant Entrepreneurship Supportive of peaceful Transformation (JICA HARVEST) team discussed with the minister the Islamic Finance (Finance and banking), Financial literacy education (Development of agricultural cooperatives), Coordination template on environmental and social issues of a project (Environmental and social consideration), Value chain approach (Promotion of agribusiness) and ways forward.