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It is with great pleasure to announce that upon the recommendation of the Governance Commission for Government Owned and Controlled Corporations (GCG), the Honorable President Benigno Simeon C. Aquino III has appointed the following Members to the AAIIBP Board of Directors, effective 8 March 2016:

  • Chairman and CEO Director Isidro A. Sobrecarey
  • Vice Chairman Director Jose A. Nuñez
  • Director Gil A. Buenaventura
  • Director Abdul Y. Hadjisalam
  • Director Lilia G. Baun
  • Director Vaughn F. Montes
  • Director Amer D. Hadji Noor
  • Independent Director Samira A. Gutoc-Tomawis
  • Independent Director Mussolini S. Lidasan

It is the first time that the Board of Directors is complete with nine members, with two members as Independent Directors. We are pleased to welcome the newly-appointed members of the Board of Directors, namely Director Montes, Director Hadji Noor, Director Lidasan and Director Gutoc-Tomawis.

AIB Board of Directors
L-R (standing): Dir. Lidasan, Dir. Gutoc-Tomawis, Dir. Hadji Noor, Dir. Montes, Dir. Buenaventura;
L-R (sitting): Dir. Baun, Dir. Hadjisalam, Chairman and CEO Sobrecarey, Vice Chairman Nuñez

 

Audit and Compliance Committee

Chairman:         Abdul Y. Hadjisalam **

Vice Chairman: Vacant

Member:          Marietta M. Fondevilla

Lilia G. Baun

Risk Oversight Committee

Chairman:         Gil A. Buenaventura

Vice Chairman: Vacant

Member:          Abdul Y. Hadjisalam**

Lilia G. Baun

Corporate Governance Committee

Chairman:         Vacant

Vice Chairman: Vacant

Member:          Abdul Y. Hadjisalam **

Marietta M. Fondevilla

 
** Independent Directors

Audit and Compliance Committee

(Resolution No. 028-2015)

Chairman:         Abdul Y. Hadjisalam **

Vice Chairman: Marietta M. Fondevilla

Member:          Lilia G. Baun



Risk Oversight Committee

(Resolution No. 029-2015)

Chairman:         Gil A. Buenaventura

Vice Chairman: Isidro Abas Sobrecarey

Member:          Abdul Y. Hadjisalam**



Corporate Governance Committee

(Resolution No. 030-2015)

Chairman:         Isidro Abas Sobrecarey

Vice Chairman: Marietta M. Fondevilla

Member:          Abdul Y. Hadjisalam **

 

 
** Independent Directors

Chariman / CEO


Atty. Jose Luis Vera is the incumbent Acting Chairman and Chief Executive Officer of the Al-Amanah Islamic Investment Bank of the Philippines, a subsidiary of the Development Bank of the Philippines. He likewise serves as a Director of DBP. 

Director Vera heads one of the country's leading property developers, Vernida Realty Development Corporation. He is also president of five radio companies- Quest Broadcasting, Advanced Media Broadcasting System, Real Radio Network, Raven Broadcasting Corporation, and Blockbuster Broadcasting System.

He is a director of the Home Mutual Development Fund and was in the Board of Directors of the Subic Bay Metropolitan Authority (1999-2003) and Philippine National Construction Corporation (1998-2001)Atty. Jose Luis L. Vera graduated from De La Salle University in 1979 with a degree in Commerce, finished his post-graduate studies in 1981 at the University of San Francisco, CA and obtained his law degree from the Ateneo De Manila and placed 18th in the 1992 Bar Examinations.

Legal Counsel


Atty. Ellen Aster B. Cabic-Garcia, completed her Bachelor of Laws at the Lyceum of the Philippines University in 2008. She took the bar examinations in the same year and was admitted to Philippine Bar on April 30, 2009. 

In September 2006 she joined Cortina and Buted Law Offices. She started in the firm as Paralegal and was promoted to Legal Associate - Corporate and Litigation Lawyer, when she passed the Bar. As a Corporate Lawyer, she acts as the Corporate Secretary of the Firm's corporate clients, Lawyer-in-charge of all corporate legal work such as doing business in the Philippines, tax-free transfer, mergers and acquisitions, capital increase and re-structuring, insolvencies, corporate rehabilitation and receiverships, dissolution, taxation, contract management/negotiations, government compliance requirements, and other related consultancy services. She attended hearings, prepares pleadings, handles labor and industrial relations work, and other litigation services.

Likewise, she also worked for Bernaldo Mirador and Director Law Offices from September 2003 to September 2006 as Corporate Services Specialist - Tax and Corporate Division. She prepared legal opinions and letter-requests for BIR Rulings, position papers, contracts and contract reviews. She also handled preparation of the requirements of the Securities and Exchange Commission, Philippine Exchange Commission, and other government institutions, relative to the firm's engagements under the Tax and Corporate Services Division. 

Atty. Cabic-Garcia joined the Bank in 2011 as Legal Counsel.

Acting Head, Compliance Office


Ms. Maharlika J. Alonto is currently the Acting Compliance Officer of the Bank. She was hired in March 2009 as Head of Accounting and Finance Department.

Ms. Alonto graduated from the University of the Philippines - Diliman with a degree in BS in Business Management and Accountancy in 2005, took and passed the board examination for accountants in 2006. She then joined Sycip, Gorres, Velayo & Co (SGV Co) as Associate Auditor and was promoted to Senior Associate Auditor. After 2 years in the assurance industry, she joined Amanah Islamic Bank in 2009. She currently holds 2 certificates on Islamic Finance from the Chartered Institute of Management Accountants (CIMA) - Certificates in Islamic Commercial Law, and Islamic Banking and Takaful.

AAIIBP is the only bank in the Philippines authorized to offer Islamic banking. It is also licensed to do both commercial and investment banking services, similar to a universal bank.

PRODUCTS and SERVICES

The AAIIBP offers deposit products (savings, current and general investment accounts) for both Peso and Dollar denominated accounts.

DBP's full ownership of AAIIBP is expected to restore and enhance depositor's confidence.

Deposit Products-

Islamic
- Current Account under "Wadiah"
- Savings Account under "Wadiah"
- General Investment Account under "Profit Sharing Scheme"
- Pilgrimage Savings Plan (PSP) 
New!

Conventional
- Current Account
- Savings Account
- Time/Special Savings

Other Services-
- Collection Agreement
- Payroll Service
- Fund Transfer/OFW Remittance
- EC Pay (Bills Payment Facility) 
New!

Financing Products under the following principles-
- Murabahah
- Al-Bai Bithaman Ajil
- Ijarah
- Al-Qardhasan (Benevolent Loan)

Director


Mr. Vaughn F. Montes brings more than 25 years of experience from Citibank, and expertise in the Philippine public sector business, Risk Management and Policy Development. He is currently Director at Development Bank of the Philippines. He holds a PhD in Business Economics from Wharton, University of Pennsylvania and an MS in Industrial Economics from the Center for Research and Communication.



Vice-Chairman: Corporate Governance Committee

MemberExecutive Committee