In Philippines, sharia-compliant banking currently accounts for a marginal share of the Filipino financial sector. Recent estimates expect that Islamic financial assets in Philippines could reach more soon.
Philippines is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Philippines's SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.
Currently, Philippines has a number of fully operational Islamic banks which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.
PHILIPPINES ONLINE SHARIA BANK