BARMM, Philippines — Following the signing of a new contract today, July 31, 2026, M&T Consultants, Islamic Co. (M&T) is continuing its partnership with The Asia Foundation (TAF) through the Accelerate Bangsamoro Program, supported by the Australian Government, to advance the Shari’ah-Compliant Women Empowerment Facility (WEF) and support M&T’s continuing work with the Bangsamoro Darul-Ifta’ (BDI) on Islamic social finance.
The renewed partnership represents a strategic next step in strengthening the WEF as a sustainable platform for Shari’ah-compliant livelihood financing. It will help refine the facility’s operating model, strengthen institutional linkages, promote strategic learning, and explore responsible pathways for extending its benefits to more Bangsamoro women.
The initiative responds to continuing financial inclusion challenges in the Bangsamoro Autonomous Region in Muslim Mindanao. According to the Asian Development Bank’s 2024 report, Unlocking the Potential of Islamic Finance in the Philippines: A Market Analysis and Landscape Report, 110 of BARMM’s 119 cities and municipalities remain unbanked. Beyond physical access, many Muslim communities require financial solutions that are consistent with their faith, values, and economic circumstances.
Developed by M&T and implemented by the League of Moro Women Organization, Inc. (LMWOI) during the previous phase of the Accelerate Bangsamoro Program, the WEF demonstrated how Islamic finance principles can be translated into practical economic opportunities at the community level.
LMWOI is the organization of women associated with the Bangsamoro Islamic Women Auxiliary Brigade (BIWAB), including former women combatants who contributed to the decades-long Bangsamoro struggle. As BARMM continues its transition from conflict toward peace, self-governance, and sustainable development, these women are also undergoing an important transition, from supporting the struggle to becoming entrepreneurs, cooperative leaders, community organizers, and dependable partners in peace and development.
The WEF supports this transition by providing women with access to financing structures that respect their faith while enabling them to build productive and sustainable livelihoods. It also builds on earlier capacity-development initiatives that strengthened LMWOI’s financial management, organizational readiness, and ability to work with government institutions and development partners.
Through Wakalah and Murabahah contracts, the pilot enabled women-led micro and small enterprises to access Shari’ah-compliant financing for retail, agriculture and agribusiness, food production, garments, and other livelihood activities.
The facility was supported by the Bangsamoro Barakah Card powered by Universal Storefront Services Corporation (USSC) as its disbursement platform, enabling beneficiaries to receive their approved Murabahah financing through digital channels. This made financing delivery more accessible and efficient while providing a foundation for the future development of digitally enabled Shari’ah-compliant financial solutions.
As of 31 May 2026, participating entrepreneurs had achieved a 72.78 percent repayment rate within an eight-month repayment period, with the remaining balances on track for recovery. The results demonstrate both the viability of the financing structure and the commitment of the participating women entrepreneurs.
The WEF’s potential extends well beyond its initial beneficiaries. LMWOI serves a wider network of more than 20,000 Bangsamoro women. With an improved operating model, appropriate institutional partnerships, and adequate resources, the WEF and the Bangsamoro Barakah Card could provide a foundation for making culturally appropriate livelihood financing accessible to more women over the longer term.
Greater access to such financing could enable women to establish or expand enterprises, develop more stable sources of household income, support their children’s education, and strengthen the economic resilience of their communities. For former women combatants, economic empowerment can also help sustain their meaningful transition into civilian, community, and economic leadership roles.
“This renewed partnership provides an opportunity to strategically strengthen a locally developed solution to financial exclusion,” said Hamodi Lao Tiboron, Managing Partner and Co-Founder of M&T Consultants, Islamic Co. “Our longer-term vision is to help women who contributed to the Bangsamoro struggle become even stronger partners in sustaining peace and development by opening pathways to dignified, sustainable, and Shari’ah-compliant economic opportunities.”
The engagement will also deepen M&T’s technical work with the BDI on Islamic social finance, particularly ongoing efforts relating to the institutionalization of zakat in BARMM. The WEF offers a practical reference for examining how zakat and other Islamic social finance instruments may complement Shari’ah-compliant livelihood financing. With appropriate governance and religious guidance, such an approach could help qualified beneficiaries move beyond short-term assistance toward sustainable economic participation.
LMWOI’s WEF experience previously served as the primary field reference for an Action-Based Learning study with INCEIF University on zakat-linked Islamic microfinance. The study’s outputs now contribute technical inputs to continuing initiatives involving M&T, the BDI, and other relevant stakeholders.
Through the renewed partnership, M&T will support the BDI’s continuing discussions on the legal and institutional foundations of zakat, collection and distribution governance, oversight and accountability, and digital readiness. The WEF will serve as one practical reference for considering how Islamic social finance may support livelihood development while respecting the religious authority of the BDI and the need for appropriate institutional arrangements.
Focused learning exchanges with selected partners will also help examine how the WEF model may complement existing livelihood initiatives, strengthen organizational approaches, and create appropriate opportunities for future collaboration.
As a BARMM-grown Islamic finance advisory and consulting firm, M&T views the continued confidence of TAF and the Australian Government as an affirmation of the importance of locally grounded expertise and solutions responsive to Bangsamoro realities.
By connecting the transition of former women combatants, women’s economic empowerment, digital financial access, Shari’ah-compliant livelihood financing, and Islamic social finance, the continued partnership seeks to establish a stronger foundation for improving the long-term economic prospects of Bangsamoro women, their families, and their communities.
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