The Amanah Islamic Bank (AIB) and the Provincial Government of Bataan through their representatives Alex P. Bangcola, Chairman and CEO and Albert S. Garcia, Provincial Governor, respectively, signed on August 8, 2019 a Memorandum of Agreement to form a Joint Venture to implement the projects of Gov. Garcia for the Province of Bataan.
Governor Albert S. Garcia and Chairman and CEO Alex P. Bangcola
The two Heads of Agencies with their Staff as they pose for a photo shoot after signing the MOA
The project stipulated in the MOA with a total estimated development cost of nearly PHP283B shall be for the construction of the following:
- The Manila Bay Bridge;
- The Bataan International Port Terminal in the Freeport Area of Bataan;
- The Freeport Area of Bataan (FAB) Mixed-use Seaport, Central Business District (CBD) and Offshore Financial Center; and
- Bataan Government Center and Balanga Convention and Central Business District at the Provincial Capitol Compound
The Bank engages its services to the Province of Bataan to provide Capital Raising Services for its Project Development via Sukuk in a joint effort with suitable funders preferably from the Middle East and/or ASEAN countries.