The newly-refurbished Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) Davao Branch shall be formally re-launched to the public in its inauguration ceremony on April 15, 2011. The occasion will be graced by its Chairman/CEO Enrique D. Bautista Jr., top officials and members of the Board of the bank, DBP officers and important guests from the government agencies, Muslim communities and the business sector.
AAIIBP, now a wholly-owned subsidiary of the Development Bank of the Philippines (DBP), is re-branded as the Amanah Islamic Bank. The DBP acquired 99.9% ownership of AAIIBP in 2008. Subsequently, a 5-yr rehabilitation program was implemented. Included in the program is the opening up of new branches not only in Mindanao but in other parts of the country as well. It seeks to implement professionalized Islamic banking in the Philippines by importing technical expertise on Islamic models from countries like Malaysia & Saudi Arabia, in close coordination with the BSP and other regulating government agencies. It aims to provide alternative banking services to the public in response to the emerging global Islamic markets.
Now on its 3rd year under the new management, re-staffing, refurbishing/renovation of bank branches and implementation of new bank systems and procedures have already been undertaken to bring forth the most up-to-date and customer-focused services to its clientele and depositors.
AAIIBP is the first and only bank in the Philippines authorized to engage in Islamic Banking. It is licensed to do both commercial and investment banking services. It offers deposit products such as Savings, Current and General Investment Accounts and project financing in both Conventional & Islamic packages. AAIIBP's products and services are open to the general public, Muslims or non-Muslims alike.
The bank has a total of nine (9) branches, eight (8) of which are in Mindanao strategically located in cities of Cagayan de Oro, Cotabato, Davao, General Santos, Iligan, Jolo, Marawi & Zamboanga. It also has a branch in Makati City. It has a Head Office at the 2nd floor of PHIDCO A Bldg., Veterans Ave., Zamboanga City and maintains an Executive Office at the 4th floor, DBP Bldg., Sen. Gil Puyat corner Makati Avenues, Makati City.
AAIIBP Davao Branch is headed by Grace Joy Sevilla-Nasser. It is conveniently located at Nicolas Bldg., E. Quirino Ave., Davao City.