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Philippines asks Indonesia for sharia banking help

Philippines asks Indonesia for sharia banking help

(11 June 2013 – Philippines) The Philippine Government has asked Indonesia for assistance to develop sharia banking in the country.

Minister of State-Owned Enterprises, Dahlan Iskan said the Philippine Government has asked Indonesia to collaborate in developing sharia banking in the Philippines.

Iskan said the Philippines wants to expand its sharia – or Islamic – banking, a priority since the majority of the population in the country’s southern area is Muslim.

Iskan added that the Philippines’ strong economic growth, which stood at 7.8 percent in the first quarter would be able to sustain a sharia bank.

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