UAE is a strategic priority, says Philippine official

An island-province in the Sulu archipelago of the Philippines is taking the lead as the next miracle in East Asia.

- Mariecar Jara-Puyod, Senior Reporter

This is Basilan, which, alongside Maguindanao, Lanao del Sur, Sulo and Tawi-Tawi comprise the 4.4 million-populated Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Its main inhabitants are the indigenous Yakans, descendants of early Papuan settlers, that welcomed this year, the Shariah-compliant Sulo Barakah Ventures (SBV) “for inclusive economic growth that can break cycles of intergenerational poverty and secure lasting peace.”

Justine Lyris Bacay told Gulf Today that SBV “adheres” to the globally-accepted standards of the 1991-established Bahrain-based not-for-profit organisation (NPO) Sharia Standards of the Accounting and Auditing Organisation for Islamic Financial Institutions: “Our Sharia Supervisory Board ensures all investments comply with Islamic jurisprudence, While the specific external Shariah scholars or firms that will formally approve our compliance are part of our ongoing process as we complete local fundraising and plan the Abu Dhabi Fund for Development incorporation, our commitment to rigorous Sharich etting is absolute.”