AAIIBP in the Philippines

Al-Amanah Islamic Bank traces its roots to the Philippine Amanah Bank, established by President Ferdinand Marcos in 1973 by virtue of Presidential Decree No. 264. With an initial capital of 100 million pesos, it was one of the world’s first Islamic banks. Its charter originally mandated it to provide financial services to the provinces of […]

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Al Amanah Islamic Bank https://upfinance.com/app/uploads/2019/08/aib.jpg
Makati City, Philippines
(02) 818-9511 local 3407 Fax: (02) 816-4259,
Interest rate 0% - 0%
Loan tenure from 0 to 0 months
Approval duration Up to 0 hours
Min. monthly income

Leading

Alex P. Bangcola (Chairman and CEO)

Shareholders

Philippine Development Bank: 99.88%

Head Office

Makati City, Philippines

Product Features

Min. financing amount ₱ 0
Max.financing amount ₱ 0
Min. loan tenure 0 months
Max. loan tenure 0 months

Deposited

Deposit Products

Islamic
– Current Account under “Wadiah”
– Savings Account under “Wadiah”
– General Investment Account under “Profit Sharing Scheme”
– Pilgrimage Savings Plan (PSP)

Conventional
– Current Account
– Savings Account
– Time/Special Savings

Credit Card

Credit cards do not have an annual fee for the 1st year, no fees for foreign transactions and give access to exclusive benefits.

Types of credit cards:

  • Mastercard Classic Reward
  • Mastercard Gold Reward
  • Mastercard Platinum Reward
  • Complete Cashback
  • Fast track

Debet Card

There are 3 options of credit cards, Mastercard UNO or DOS – Classic or Platinum

Dos classic

  • Financial fee
  • 3.50% rate of financial charges based on average daily balance (ADB
  • Membership fee
  • P100 / month (main)
  • P50 / month (optional)
  • The amount for the withdrawal of the cash
  • 9% of the amount

Dos platinum

  • Financial fee
  • 3.50% rate of financial charges based on average daily balance (ADB)
  • Membership fee
  • 3000 P1 (main)
  • P 1500 (optional)
  • Amount for withdrawal – 9%

UNO Platinum and Classic

  • Cash advance 5% of the withdrawn amount or P500
  • 600P overdue fee
  • Foreign currency markup – 2%
  • 500P card replacement fee
  • Refund – 500 Pesos
  • Account Maintenance – 50 Pesos
  • Overpayment fee – P500
  • Multiple payment processing fee – 40P
  • Return fee – 500P
  • Certification fee – 100P
  • Commission for termination of installments 5%
  • Fee for cashless transfer of cash P500

Contacts

Full company name Al Amanah Islamic Bank
Address Makati City, Philippines
Phone number (02) 818-9511 local 3407 Fax: (02) 816-4259
E-mail
Social networks

Al-Amanah Islamic Bank traces its roots to the Philippine Amanah Bank, established by President Ferdinand Marcos in 1973 by virtue of Presidential Decree No. 264. With an initial capital of 100 million pesos, it was one of the world’s first Islamic banks. Its charter originally mandated it to provide financial services to the provinces of Basilan, Cotabato, Lanao del Norte, Lanao del Sur, Palawan, Sulu, Tawi-Tawi, Zamboanga del Norte and Zamboanga del Sur, where there are large, if not predominant, Muslim populations.

In 1974, the bank’s charter was amended by Presidential Decree No. 542, allowing it to open branches in Maguindanao and Sultan Kudarat. The amended charter also mandated that the bank provide banking services according to Islamic principles, which was not explicitly provided for under the original charter.

In 1989, the bank was re-chartered and re-capitalized pursuant to Republic Act No. 6848, and was subsequently renamed the Al-Amanah Islamic Investment Bank of the Philippines, with a capital of one billion pesos. Between 1990 and 2007, the bank was under the supervision of the Bureau of the Treasury.

The bank was sold to another government-owned bank, the Development Bank of the Philippines, in 2008. However, in 2012, DBP announced that it intended to divest itself of the bank, since it does not have the expertise to handle an Islamic financial institution.

Users rating

Reviews

1 year ago

Good Banking,

one of the best Bank Good working environment Largest Bank i am now attached with this bank for 20 months and it is providing great and nice facilities that no other bank is giving

1 year ago

Experience Staff

this bank have experience staff and peoples whom you can talk freely overall this company is the best and good and also AAIIBP customer care is quite good

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