Catalyzing Social Enterprise Development: Bayan Family of Foundations and Amanah Islamic Bank Sign Strategic Partnership in BARMM

Posted on
May 13, 2024
Written by:
Alwin Pulido
Catalyzing Social Enterprise Development: Bayan Family of Foundations and Amanah Islamic Bank Sign Strategic Partnership in BARMM

In a groundbreaking move to advance social enterprise development in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the Bayan Family of Foundations (BFF) and Amanah Islamic Bank (Amanah) have inked a strategic partnership last May 3, 2024. This Memorandum of Understanding (MOU) marks a significant milestone, uniting a prominent non-profit organization with the Philippines' sole Islamic bank to propel development initiatives within the region.

This partnership builds upon BFF's prior collaboration with the Cooperative and Social Enterprise Authority – BARMM (CSEA-BARMM), demonstrating a steadfast commitment to promoting economic empowerment and social progress in BARMM. By partnering with Amanah, BFF aims to further these objectives and contribute to the long-term development and stability of the region.

The partnership is guided by four specific goals aimed at advancing BARMM's development objectives through collaborative action. Firstly, it seeks to provide tailored support for social enterprises in BARMM, recognizing the unique socio-economic landscape of the region. Secondly, leveraging BFF's impact investment funds through Amanah’s financial infrastructure, the collaboration intends to finance various development projects. Thirdly, by integrating BFF's specialized services, the partnership aims to enhance the effectiveness of Amanah's Corporate Social Responsibility (CSR) initiatives in BARMM. Lastly, it champions social entrepreneurship as a catalyst for inclusive growth, aligning with the goals of the National Social Enterprise Development Roadmap.

Under this agreement, BFF will leverage its extensive networks and specialized knowledge to lead the social enterprise development projects aligned with the partnership's objectives. Meanwhile, Amanah Islamic Bank will provide crucial financial support to ensure the successful implementation of joint endeavors. This collaborative framework underscores a synergy to maximize the impact of their collective efforts in advancing community development initiatives within BARMM.

This collaborative venture holds immense promise for BARMM's development landscape, unlocking new avenues for growth, entrepreneurship, and community empowerment. By harnessing the complementary strengths of both organizations, the partnership is poised to drive sustainable change and foster a climate of opportunity within the region. This promise of a brighter future fuels our collective efforts.

As BARMM pursues a future of prosperity and inclusivity, the partnership between BFF and Amanah Islamic Bank emerges as a beacon of hope and progress. United in purpose and propelled by a shared commitment in building the nation from below, BFF and Amanah exemplify the transformative potential of collaborative action. Embarking on this collective journey, their partnership serves as a testament to the power of collaboration in driving meaningful socio-economic transformation within BARMM and beyond.