MP Esmael backs Bangsamoro Cooperative Code drafting

Members of the technical working group of the Office of Member of Parliament Abduladzis M. Esmael, Al-Haj, conduct an informal meeting Monday, May 17, 2021, to discuss the salient features of the proposed Bangsamoro Cooperative Code. (Photo courtesy of Johaina Mohamad) 

 COTABATO CITY – Member of Parliament (MP) Abduladzis M. Esmael, Al-Haj, expressed his full support for the drafting of the Bangsamoro Cooperative Code.

A technical working group (TWG) was formed to expedite the formulation of the bill to institutionalize the said Code, under Esmael’s leadership.

Chief of Staff Khalid S. Esmael hosted an informal meeting on Monday, May 17, with the members of TWG led by Political Affairs Officer VI Allan D. Calido, research and administrative support staff, with the guidance of Engr. Mlang Utto Madal and his associate, Mr. Salman Mohammad.

The said meeting aims to deliberate and predetermine relevant qualities of the proposed code to be operational in the economic landscape of the Bangsamoro region.

“The proposed Bangsamoro Cooperative Code must able to lay out comprehensive provisions that will, by and large, contribute to the development of the cooperatives, principally small-scale enterprises in the region,” Calido stressed.

Engr. Madal also said the proposed cooperative code will provide foundations to strengthen the development of cooperatives and other social enterprises in the region.

“The Bangsamoro Cooperative Code shall endow support in capacitating cooperatives and other social enterprises through relevant training and establishing methodical and easy-to-follow monitoring and evaluation procedures. Registration, on the plus side, will reinforce the press for apposite requirements to reduce the number of days for the approval of qualified applicants,” he said.

One of the salient features of the bill is the opportunity of holding a Riba-free provision, which is aligned with Shariah laws. 

The bill proposes to scrap the concept of increasing and growing capital through interest rates from credited finances and payments. 

The Office of MP Esmael assured the Bangsamoro Cooperative Code will be completed by the end of May 

It will be proceeded with a peer review by concerned government entities and other members of the Parliament. 

Series of consultations with community stakeholders are projected to take place after the final version of the code. (MOHAMADAN ABDULKASAN / MINDANAO EXPOSE’)