Islamic Deposit Insurance System will be implemented by PDIC

Makati, Philippines- Muslims will no longer think twice having a stable deposit on banks because the Philippine Deposit Insurance Corporation (PDIC) hope you encourage the Filipino Muslim to save on banks.

While the plan is still in the Technical Working group stage, its a step toward inclusivity in terms of financial literacy for sectors such as Muslim Filipinos in which banking are under the Shariah code.

Speaking at the press conference held at their office, PDIC Vice President for Communication Jos√© G Villaret Jr says that it’s a great news for Muslim so they can protect their hard earned money.

In line with the upcoming Deposit Protection Awareness Week or DPAW 2024 this coming June 16-22, 2024. Included in the celebration is this Press conference ar the Main Office of the Philippine Deposit Insurance Corporation (PDIC) with the Philippine Information Agency with the topic “PDIC 101 Understanding Deposit Insurance.”

In the interview to Jose F VillareJr, Vice President of PDIC Corporate Affairs Group. Bank deposits are insured up to P500,000.00 per individual depositor by the PDIC.

In term of Islamic Banking in the country with each legal provision that Islamic deposit insurance is a Shariah-compliant system that provides protection to depositors against this type of failure and reinforces consumer protection aspects inherent to Islam to cater to Muslim Filipino as part of Financial Inclusion Strategy./

// Mary Jane Olvina Balaguer, 09053611058, maryjaneolvina@gmail.com DZMJ ONLINE DAWAH ZAKAT MAKABULUHANG JORNALISMO YOUR HAPPINESS CHANNEL