Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), a subsidiary of state-run Development Bank of the Philippines (DBP), inaugurated its newly refurbished Zamboanga branch on November 12, 2010 at its new location at PHIDCO Building Veterans Avenue, Zamboanga City.
Zamboanga City Mayor Celso L. Lobregat honored the event as inauguration guest speaker. Joining the list of guest are Zamboanga City First District Congresswoman Beng Climaco Salazar and Philippine Air Force General Lorenzo R. Sumicad, Wing Commander of Edwin Andrews Air Base (EAAB). Chairman and CEO Enrique D. Bautista, Jr. expressed his deep appreciation to all who graced the occasion. AAIIBP directors Nabil Tan and Abdul Y. Hadjisalam also joined the Chairman in inaugurating the AAIIBP Zamboanga branch.
Being the first and only Islamic bank in the country, Amanah was established in 1973 with the aim of providing medium and long term credit facilities to the Muslim people. In 1990, then-President Corazon C. Aquino signed into law the Charter of AAIIBP (R.A. No. 6848) which mandates the Bank to promote and accelerate the socio-economic development of the Autonomous Region in Mindanao.
In 2007, the Development Bank of the Philippines (DBP) acquired 99.88% ownership of Amanah Bank, thus paving the way for its rehabilitation.
As part of Amanah Bank's current rehabilitation plan, the refurbished Zamboanga branch is strategically located at the city's business district to serve the bank's present and prospective clients in the entire Zamboanga Peninsula and Basilan Province. Zamboanga Branch is now on-line with the other branches and its Executive Office in Makati City.
Aside from both Islamic and conventional banking products and services, Amanah Zamboanga branch also accepts over-the-counter bills payment of consumers of Zamboanga City Electric Cooperative, Inc. (ZAMCELCO).
AAIIBP presently has nine branches strategically located in Cotabato, Cagayan de Oro, Davao, General Santos, Iligan, Jolo, Marawi, Zamboanga, all in Mindanao and Makati City. Amanah Bank maintains its Executive Office at the 4th floor of the Development Bank of the Philippines, Sen. Gil Puyat Avenue corner Makati Avenue, Makati City.