Maranaw Managemen Corp

VENTURE

MARNAW VENTURE MANAGEMENT  CORP AND THE ERA ASSET GROUP OF HONGKONG ARE THE TOP TWO MAJOR STOCKHOLDERS OF THE AMANAH ISLAMIC BANK.Islamic Bank is short for Amanah Islamic Investment Bank of the Philippines. It was duly organized on April 28, 1992 by an official mandate of the Office of the President of the Philippines dated June 25, 1991. On July 29, 1993, the Securities and Exchange Commission issued a letter of confirmation that the Islamic Bank is deemed registered and duly authorized to operate as Islamic Bank. Pursuant to the provisions of R.A. 6848, the Islamic Bank was  gradually privatized from 1993 to 2000. Republic Act 6848 is a special law in the Philippines that is otherwise known as the Charter of the Al Amanah Islamic Investment Bank of the Philippines. The Amanah Islamic Bank is not governed by general provisions of the General Banking Law of 2000. Rather, it is governed only by special provisions thereof (Sections 3 (f) and 71) and by special laws. For more information, please click on the links on the navigation bar under Blogroll at the right: Amanah Islamic Bank and Islamic Banking Institute.

The Islamic Bank is governed by Chapter VII, (Laws Governing Other Types of Banks) of the General Banking Law of 2000, R.A. 8791.

Section 71, Chapter VII of Republic Act No. 8791, known as the General Banking Law of 2000, provides:

The organization, ownership and capital requirements, powers, supervision and general conduct of business of Islamic banks shall be governed by special laws (i.e. Republic Act 6848).

THE ISLAMIC BANK HAS BEEN UNDER HEAVY CLOUDS OF LINGERING LEGAL AND POLITICAL CONTROVERSIES SINCE  1992. RIGTH NOW THERE IS A SUBSISTING RESTRAININGG ORDER ISSUED BY THE SUPREME COURT OF THE PHILIPPINES

THE ISLAMIC  CAPITAL AND PRIVATE  EQUITY PLACEMENTS OF THE ISLAMIC BANK IS NOW BEING CARRIED OUT

AND IMPLEMENTED DIRECTLY BY THE  ISLAMIC CAPITALMANAGEMENT CORPORATION. THE PRIVATE INVESTMENT ACTIVITIES INCLUDE MERGERS AND ACQUISITION, AS WELL AS ISLAMIC VENTURE CAPITAL FUNDING IN COLLABORATION WITH  ERA INVESTMENTS(HK) COMPANY LTD.