ISABELA CITY, BASILAN (January 27, 2026) – Marking a major leap toward financial dignity among Filipinos, M&T Consultants, Islamic Co. joined the City Government of Isabela and the Bangko Sentral ng Pilipinas (BSP) for the historic first-ever Islamic Banking Caravan. Led by Mayor Sitti Djalia Turabin-Hataman, the event served as a launchpad to showcase how Islamic finance provides practical, interest-free solutions for the country’s most vital sectors.
M&T emphasized that for farmers and fisherfolks, Shari’ah-compliant models offer a safety net against the unpredictable nature of harvests and tides. By using “risk-sharing” models, banks and producers become partners, ensuring that a bad season doesn’t lead to a debt trap, a crucial shift for a province where agriculture and fisheries are the lifeblood. For MSMEs, M&T highlighted “asset-based” financing, where small business owners can acquire equipment like through transparent, fixed-profit installment plans rather than traditional interest-bearing loans.
A key highlight of M&T’s presentation was the role of Islamic finance as a premier tool for women’s economic empowerment. M&T shared significant milestones from the Accelerate Program by The Asia Foundation (TAF) supported before by USAID, the Australian Government (DFAT), and VISA. This program has successfully integrated digital financial literacy with Shari’ah-compliant capital, allowing women entrepreneurs in the region to transition from micro-sellers to sustainable, bankable business owners. By removing the barrier of riba (interest), M&T noted that these development partners are seeing a surge in participation from women who were previously excluded from the formal financial system.
The journey toward this milestone was made possible by the visionary leadership of Mayor Sitti Djalia Turabin-Hataman, the “Mother of Republic Act No. 11439” (The Islamic Banking Law) – whose legislative groundwork has now come full circle to serve her constituents directly. This vision is bolstered by the unwavering support of Atty. Arifa A. Ala, BSP Senior Assistant Governor and the country’s lead focal person for Islamic Finance. A global trailblazer, Atty. Ala was honored as the “Woman Influencer in Financial Services Industry” at the 2025 World Financial Innovation Series and has been a consistent recipient of the WOMANi Award, recognizing her as one of the most influential women in Islamic business and finance worldwide. Together, these two leaders are ensuring that the promise of the law translates into a “Happy and Dignified Life” for every Isabeleño, and the larger Filipino community.
Photo Courtesy: City Government of Isabela