Bangko Sentral ng Pilipinas (BSP) Senior Assistant Governor Arifa A. Ala received the “Woman Influencer in Financial Services Industry” award from the World Financial Innovation Series (WFIS) on 24 September 2025 in Pasay City. She serves as the BSP’s lead advocate for Islamic Banking.
WFIS recognized lawyer Ala for her leadership in driving transformative change in the Philippine financial sector. Her work has helped position Islamic banking and finance as a viable pillar of inclusive growth.
This recognition affirms the BSP’s thrust to “create space for Islamic banking to thrive alongside conventional finance so that every Filipino, regardless of faith, could access fair and meaningful opportunities responsive to their needs,” Ala said.
She dedicated the award to women and shared the honor with her colleagues at the BSP, partners in government, and the financial industry. She reaffirmed her commitment to growing Islamic banking and finance as a force for inclusion, equity, and sustainable development.
Atty. Ala played a major role in the enactment of the Islamic Banking Law in 2019 and its prompt implementation by the BSP. She also championed a whole-of-government approach to develop the Islamic finance ecosystem through the Islamic Finance Coordination Forum.
This whole-of-government approach has led to the licensing of two new Islamic banks and four Islamic insurance (takaful) operators. PR