Thursday, July 09, 2009

Philippines' Islamic bank elects interim chairman

ZAMBOANGA CITY, Philippines (Mindanao Examiner / July 9, 2009) – An accomplished Filipino banker Armando Samia was unanimously elected as interim chairman and Chief Executive Officer of the Al-Amanah Islamic Investment Bank of the Philippines, government media said on Thursday.

The Philippine Information Agency said Samia replaced Jaime Panganiban, who resigned to attend to his private business.

Samia was the former head of Development Bank of the Philippins's marketing sector. The report said Samia was elected on Wednesday during a special shareholders' meeting at the DBP head office in Makaty City.

Prior to joining the DBP, Samia was vice president and deputy general manager of the Bankers Trust Company, Manila Offshore Branch, where he headed sales and distribution of its various products originating from corporate finance.

The Islamic bank’s Board members are Patricia Santo Tomas, Reynaldo David, Reyerend Magno Teves, Ramon Durano IV, Samira Gutoc, Nabid Alfad Tan, and Abdul Hadjisalam and Ibrahim Mamao.

It will elect the new members of its Board during its regular annual shareholders' meeting on July 29 and the election of the new officers of the bank during an organizational meeting to be held immediately after the annual shareholders' meeting.

The Al-Amanah Islamic Investment Bank of the Philippines is the first and only Islamic bank in the country whose mandate is to serve the banking needs of the Muslim community.

It was formed as the Philippine Al-Amanah Bank in 1973. It was reestablished as Al-Amanah Islamic Investment Bank in 2000 to promote and accelerate socio and economic development of the Autonomous Regions of Muslim Mindanao.

Its head office is located in Zamboanga City and maintains an executive office in Makati City and nine other branches located in the cities of Makati, Cagayan de Oro, Cotabato, Davao, General Santos, Iligan, Marawi and Zamboanga and Sulu. (Mindanao Examiner)

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