DAVAO CITY — The Japan International Cooperation Agency (JICA) has partnered with the Mindanao Development Authority (MinDA) to strengthen Islamic finance and the Halal industry in Mindanao, with a particular focus on the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
The collaboration is part of JICA’s “Data Collection Survey for the Promotion of Islamic Finance and Halal Industry in BARMM,” led by Mr. Tsurutani Manabu of NTC International Co., Ltd. MinDA has been identified as a key government partner in this initiative, which aims to advance financial inclusion and position Mindanao as a competitive player in the global Halal market.
MinDA Chairperson Secretary Leo Tereso Magno underscored the agency’s commitment to supporting efforts that address financial gaps and promote economic resilience in Mindanao.
“Islamic finance and the Halal industry are pivotal in strengthening Mindanao’s economy, particularly in BARMM, where financial inclusion remains a challenge. Through this collaboration with JICA, MinDA is committed to driving policies and programs that create sustainable, inclusive, and globally competitive industries,” Magno said.
MinDA has long championed policies supporting Islamic finance, playing a vital role in the passage of Republic Act No. 11439 in 2018, which provides the regulatory framework for Islamic banking in the Philippines. Under this law, the Bangko Sentral ng Pilipinas (BSP) was designated as the lead agency for the development and supervision of Shariah-compliant banking services — a move seen as critical to reaching underserved and unbanked communities in BARMM, where 92% of municipalities still lack formal banking access.
In addition to its Islamic finance advocacy, MinDA is also an active member of the Philippine Halal Export Board, which works to enhance the global competitiveness of Filipino Halal products through joint initiatives and harmonized policies.
The JICA survey team is set to conduct consultations, stakeholder engagements, and market assessments throughout Mindanao. The findings will help map out priority areas for collaboration and policy development, strengthening the region’s Shariah-compliant financial systems and refining Halal accreditation processes.
MinDA’s involvement in the survey complements its broader development agenda, which envisions Mindanao as a hub for sustainable, inclusive, and globally competitive industries — a vision anchored in the agency’s mission of “Building a Better Mindanao.”