Both the prudential regulation and Shariah inspection and supervision are integral elements of the check and balances to ensure products and transactions meet the test of authenticity and compliance with Shariah.
Last August 2017, the BSP, together with the Department of Finance (DOF), Securities and Exchange Commission (SEC) and Bureau of the Treasury (BTr), unveiled the roadmap to hasten the development of the domestic debt market. Deliberately, we sequenced and calibrated the roadmap to prioritize urgent and foundational issues.