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ADB and Bangko Sentral ng Pilipinas Mark Seven Years of Cooperation and Success in Developing Islamic Finance in the Philippines
Manila, Philippines, 26 November 2024—Following its successes in Indonesia and Malaysia in September 2024, ADB and Bangko Sentral ng Pilipinas (BSP) brought their Philippine Islamic Finance Roadshow back to Manila for its concluding session.
Uzbekistan's Graduate School of Business and Entrepreneurship partnered, with ADB's support, hosted a two-day training program on alternative dispute resolution (ADR) for commercial disputes. The seminar equipped participants with practical tools for efficient and effective dispute resolution, focusing on arbitration, mediation, and online dispute resolution. By promoting ADR, the program aims to foster a conducive business environment and attract foreign direct investment to Uzbekistan.
On 16-17 October 2024, ADB and Cambodia’s Ministry of Commerce (MOC) held stakeholder consultations on the draft Cambodia E-commerce Trustmark Scheme (CETS) in Phnom Penh, Cambodia.
In September 2024, the Asian Development Bank (ADB) published a comprehensive report exploring the potential and demand for Islamic banking and finance services in the Philippines. Titled Unlocking the Potential of Islamic Finance in the Philippines: A Market Analysis and Landscape Report, the study found that many Muslim Filipinos—many of whom own and operate micro, small, and medium enterprises (MSMEs)—prefer Islamic financial services but have limited access to them.
On 3 September 2024, on the sidelines of the Annual Meeting of IFI General Counsels in Montevideo, Uruguay, the Asian Development Bank General Counsel Thomas M. Clark and the International Fund for Agricultural Development General Counsel Katherine Meighan signed a memorandum of understanding to enhance collaboration in legal and policy development in the forestry, food, and agriculture sectors, as well as their shared interest in advancing environmental rule of law