August 5, 2016 – CARD BANK INC. set up a conference meeting with the Islamic Finance Team of Al Qalam Institute for Islamic Identities and Dialogue in Southeast Asia. CARD BANK INC. is a micro-finance oriented rural bank and a member of CARD MRI which is a multi-million institution.
One of the projects of Al Qalam Institute is the Islamic Finance Program which aims to
reach out those communities who need financial support with the guided principle of Shari‘ah Law. So far, Al Qalam Institute has implemented some of its programs through various help from local government units (LGUs) and private sectors like Peace and Equity Foundation (PEF) as its main partner.
CARD BANK INC. aims to have an accreditation on Shari‘ah basic principle or Halal system process for their micro-finance program, and they decided to set up a partnership to Al Qalam Institute to gain trainings and workshop activities in order for its team to have a support knowledge on Islamic Micro-finance, as some of its constituents are Muslims. At the moment, the bank is setting up the qualifications and standards of Al Qalam Institute to have a finalization and signing of a Memorandum of Agreement (MOA), then as per agreement, the assigned team in each Institute will proceed to the guidelines and proper trainings and workshop under Al Qalam Institute.