In 1974, Presidential Decree No. 542 was issued directing the Bank to implement the Islamic
concept of banking, following the "no interest principle" and the partnership principles. This
directive was not fully carried out because conventional banking still dominated the Bank's
It was in 1990 that the Bank became a primarily Islamic bank with the signing of Republic Act
No. 6848, otherwise known as the Charter of Al-Amanah Islamic Investment Bank of the
Philippines (AAIIBP). The new charter provided the Bank an authorized capital stock of P1
billion consisting of 10 million common shares. With the mandate to promote and accelerate
the socio-economic development of the Autonomous Region of Muslim Mindanao (ARMM)
through banking, financing and participating in agricultural, commercial and industrial
ventures based on the concept of Islamic banking.
By mid-1990, three (3) of its branches, Cotabato, Marawi and Jolo, have been transformed
into accepting Islamic deposits. The other branches have been transacting both conventional
and Islamic banking products, services and facilities.
From 1990 to 2007, AAIIBP managed its operation with the support of the Bureau of
On November 14, 2007, the DBP Board of Directors approved the acquisition of AAIIBP. DBP
took full control of the Bank's operations on July 16, 2008. On October 30, 2008, DBP
completed the acquisition of the shareholdings of the National Government, the SSS and the
GSIS in AAIIBP, thereby controlling 99.9% of the Bank.
On October 22, 2009, the Monetary Board approved the Bank's 5-year Rehabilitation Plan,
which focused on four corporate strategies (4Rs), namely, Recapitalization, Restoration of
Financial Viability, Reorganization and Reforms Institutionalization. Under the
Rehabilitation Plan, AAIIBP is allowed to continuously do both conventional and Islamic
In November 2009, DBP infused Php1.0 billion capital to Amanah Bank that marked the
partial completion of the recapitalization strategy.
Welcome To Amanah Islamic Bank!
To provide Islamic Banking products
and services that adhere to the
principles of Shari'ah.
To be the leading and choice Islamic
financial institution providing
alternative banking services in
response to the emerging global
Islamic markets and to promote and
accelerate the socio-economic
developments of the Islamic
communities in the Philippines.
Amanah Islamic Bank 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.
Amanah Islamic Bank was first established as "Philippine
Amanah Bank" by virtue of Presidential Decree No. 264 by
then President Ferdinand E. Marcos. The decree required
the Bank to invest 75%of its total loanable funds for the
purpose of providing, among others, reasonable medium
and long-term credit facilities to the people of the
Muslim-dominated provinces of Cotabato, South Cotabato,
Lanao del Sur, Lanao del Norte, Sulu, Basilan, Zamboanga
del Norte, Zamboanga del Sur and Palawan. Thus, the Bank
has been transformed into a development bank with an
initial capitalization of P50 million.
a subsidiary of the DEVELOPMENT BANK OF THE PHILIPPINES