FORMER Budget secretary Amenah Pangandaman has been appointed chairman and CEO of Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), marking a return to government service after she resigned last year in the wake of a massive flood control project scandal.
“Her appointment marks the beginning of a new chapter as AAIIBP continues to strengthen Islamic banking, promote financial inclusion and drive sustainable development across the Philippines,” the bank said in a notice on its website.
“Welcome to the AAIIBP family, We look forward to your inspiring leadership and wish you every success.”
Al-Amanah is the country’s first and only Islamic bank, offering Shariah-compliant products and services. The bank in its website states that it is a subsidiary of state-owned Development Bank of the Philippines and operates nine banks in Cagayan de Oro, Cotabato, Davao, Iligan, General Santos, Marawi, Makati, Zamboanga and Jolo.
Pangandaman, along with Executive Secretary Lucas Bersamin, resigned out of “delicadeza” (propriety) in November last year after their names were mentioned in connection with allegedly anomalous flood control projects. Neither have been charged.
