DAVAO CITY - The Peace and Equity Foundation (PEF) and the UP Strategic Research and Management Foundation (UPSTREAM) signed a memorandum of agreement to undertake an action research study on Islamic financing in the Bangsamoro Autonomous Region in Muslim Mindanao.
The study, to be conducted by the UP Center for Integrative and Development Studies under its Escaping the Middle-Income Trap Chains-for-Change program (EMIT C4C) will identify the needs, barriers, and opportunities related to Islamic financing, starting with PEF projects in the region.
The accord was signed by UPSTREAM
President Dr. Sylvia Concepcion and UP EMIT C4C Senior Research Analyst Jane
Lynn Capacio.
Under the agreement, PEF and the EMIT
C4C team will gather data, conduct discussions and deliberations, and write the
report. UPSTREAM, meanwhile, will monitor the implementation of the action
research project.
Islamic finance or Shari’ah-compliant financing refers to instruments and services that abide by Islamic law. Its development will help promote financial inclusion and create solutions for Muslims residing in the Bangsamoro region.
“PEF would like to look at the current
landscape of Islamic financing and what can be our role in helping the poor
through this instrument,” PEF Executive Director Roberto Calingo said.
In the past, PEF has supported social
enterprises involved in Islamic financing and partnering with other advocates
such as the Center for Agriculture and Rural Development - Mutually Reinforcing
Institutions and the Ramon Magsaysay Awards Foundation. (Mindanao Examiner)
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