6 months Escudero, Gatchalian seek approval of Islamic banking act MB
By Mario Casayuran Outgoing Senator Francis ‘’Chiz’’ Escudero and Senator Sherwin Gatchalian have sought congressional approval of a bill seeking the establishment of a sound legal and regulatory framework for the development of Islamic banks in the country. (MANILA BULLETIN FILE PHOTO) This came after they co-sponsored Senate Bill 2231, or An Act Providing For The Regulation and The Organization of Islamic Banks. Congress has to pass the measure in the last two plenary sessions on Monday and Tuesday before adjourning sine die on June 7. Gatchalian chairs the Senate Committee on Economic Affairs while Escudero heads the Senate Committee ... more