Business
CARD MRI opens new Islamic bank branch in Marawi, boosts Shari’ah-compliant services in BARMM
By Bhal Abad Cabrera
MARAWI CITY – CARD Mutually Reinforcing Institutions (CARD MRI) expanded its presence in the Bangsamoro region with the opening of the CARD Islamic Bank – Marawi City Branch, further strengthening access to Shari’ah-compliant financial services in BARMM.
Bureau of Bangsamoro Organic Investments (BBOI) Chairperson Mohamad Omar Pasigan and Board of Governor Datu Habib Ambolodto attended the launch, along with high-ranking officials from the Bangko Sentral ng Pilipinas (BSP), underscoring national-level support for Islamic finance expansion. They joined CARD MRI Founder and Chairman Emeritus Dr. Jaime Aristotle Alip in the ceremonial opening.
Alip said the Marawi branch is a strategic step in CARD MRI’s mission to provide ethical, culturally grounded, and accessible financial services to Muslim communities—many of whom remain underserved by traditional banking institutions.
The Marawi branch is CARD Islamic Bank’s second in the region, following its first Islamic banking unit in Cotabato City launched in 2024. The expansion aligns with the growing demand for Shari’ah-compliant financial products in the Bangsamoro, especially among microentrepreneurs, women’s groups, and families rebuilding livelihoods after conflict. Local officials from Marawi City and Lanao del Sur also attended the opening, expressing support for initiatives that open more pathways to capital, livelihood opportunities, and long-term economic stability.
The presence of BSP officials highlighted the national government’s support for strengthening Islamic finance as part of its broader financial inclusion agenda. BSP’s participation also signaled a continuing collaboration between regulators and development institutions to expand responsible banking in the region. BBOI Chairperson Pasigan said the opening reflects BARMM’s direction in promoting ethical, community-centered investments that uplift local enterprises and drive regional growth.
CARD MRI officials said the branch will serve microentrepreneurs, families, and community organizations seeking transparent, affordable, and faith-aligned financial services. With this expansion, CARD MRI strengthens its push for financial inclusion, community resilience, and accessible Islamic banking—an approach that continues to resonate across the Bangsamoro region.
