Bangko Sentral ng Pilipinas (BSP) senior assistant governor Arifa A. Ala was awarded the “Woman Influencer in Financial Services Industry” by the World Financial Innovation Series (WFIS) on 24 September 2025 in Pasay City. Ala was recognized for her leadership in advancing Islamic banking in the Philippines, positioning it as a key driver of inclusive economic growth.
Ala dedicated the award to women and shared it with her colleagues at the BSP, as well as government and industry partners. She emphasized her commitment to fostering Islamic banking as a catalyst for inclusion, equity, and sustainable development.
As the BSP’s primary advocate for Islamic banking, Ala played a pivotal role in the passage of the Islamic Banking Law in 2019, which has led to the establishment of two new Islamic banks and four Islamic insurance operators. Her efforts also contributed to the creation of the Islamic Finance Coordination Forum, promoting a whole-of-government approach to the growth of the Islamic finance sector.
