Lesson 3 part 3

Question 1

• To become a full Islamic Bank and afford Filipinos of the blessings and benefits of Islamic banking, financing and investment.
• To be competitive and significant in the banking industry.
• To become a key-player in the global Islamic banking and investment market
• Participate in all phases of development especially in the ARMM and Mindanao.

Answer 1

Al-Amanah Islamic Bank’s Mission statement

Question 2

To be the leading and choice Islamic financial institution providing alternative banking services in response to the emerging global Islamic markets and to promote and accelerate the socio-economic developments of the Islamic communities in the Philippines by 2022.

Answer 2

Al-Amanah Islamic Bank’s Vision statement

Question 3

To operate like trader

Answer 3

Islamic banking

Question 4

Trading activites:

Answer 4

• Sale of commodities
• Leasing of Assets
• Providing Services
• Investing into Business

Question 5

Murabaha

Answer 5

In a sale based struture
(Buyer/Seller)

Question 6

Ijarah

Answer 6

In a rental based structure
(Lessee/Lessor)

Question 7

Musharaka/Mudaraba

Answer 7

participation based Partnership
(SHARING PROFIT)_

Question 8

WAKALA

Answer 8

Agency based
(FEES)

Question 9

Act Providing for the 1989 Charter of the Al-Amanah Islamic Investment Bank of the Philippines, Authorizing Its Conduct of Islamic Banking Business.

Answer 9

Republic Act No 6848