CARD MRI Launches First Islamic Bank in the Philippines, Aims to Boost Financial Inclusion and Alleviate Poverty

CARD MRI Launches First Islamic Bank in the Philippines, Aims to Boost Financial Inclusion and Alleviate Poverty

Cotabato City | via Bhal Cabrera | January 22, 2024

In a significant stride towards financial inclusion and poverty eradication, CARD MRI - Center for Agriculture and Rural Development Mutually Reinforcing Institutions inaugurated its first Islamic Bank in Cotabato City, marking a historic milestone for the organization and the region.

The inauguration ceremony, held on January 22, 2024, was graced by prominent officials from the Bangko Sentral ng Pilipinas (BSP), the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), Cotabato City, and CARD MRI. The event attracted a diverse array of stakeholders, all gathered to witness the unfolding of a new chapter in the pursuit of economic empowerment for Filipinos.

Empowering Lives, Uplifting Communities: CARD MRI's Commitment to Poverty Eradication

CARD MRI, renowned for its unwavering commitment to poverty eradication, has strategically expanded its reach by establishing the first Islamic Bank in Cotabato City. The move aligns with the organization's overarching goal of uplifting the lives of Filipinos, particularly in Mindanao, where economic opportunities are pivotal for sustainable development.

The newly opened Islamic Bank is set to play a crucial role in fostering financial inclusion among Muslim communities in Mindanao. By adhering to Islamic banking principles, the institution aims to cater to the unique financial needs of the population, fostering a banking environment that aligns with Islamic values.

Dignitaries Converge for Inauguration: A Symbolic Moment of Collaboration

The inauguration ceremony witnessed the convergence of esteemed dignitaries, including high-ranking officials from the BSP, BARMM, and Cotabato City. Their presence underscored the collaborative efforts required to drive economic progress and financial inclusion in the region.

Representatives from CARD MRI were also present, expressing their dedication to the cause of eradicating poverty through innovative financial solutions. The event showcased a unified commitment to creating a positive impact on the lives of Filipinos, especially in Mindanao.

Strategic Partnerships for Sustainable Development.

The establishment of the Islamic Bank is not just a testament to CARD MRI's commitment but also a result of strategic partnerships with government institutions, reflecting a shared vision for a prosperous and economically inclusive Mindanao.

As the bank begins its operations, it is poised to provide accessible and ethical financial services, empowering individuals and communities to break free from the cycle of poverty.

Looking Forward: A Beacon of Hope for Mindanao's Economic Landscape

The opening of CARD MRI's first Islamic Bank in Cotabato City serves as a beacon of hope, signaling a new era of economic growth and empowerment for Mindanao. With the support of BSP, BARMM, and local authorities, the institution is poised to make a lasting impact on the financial landscape, contributing significantly to the overarching goal of eradicating poverty and improving the quality of life for all Filipinos.