Amenah Pangandaman's Islamic bank appointment questioned; Palace defends designation

The appointment of former Budget Secretary Amenah Pangandaman as chairperson and CEO of the government’s Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) has drawn criticisms in light of past allegations that linked her to anomalous flood control projects and questioned allocations.

According to Ivan Mayrina’s report on “24 Oras,” former Finance Undersecretary Cielo Magno said Pangandaman was not even investigated in connection with the allegations.

“Hindi naiimbestigahan, hindi nakakasuhan, pero na-appoint as CEO ng isang government bank,” Magno said in a video uploaded online.

(She was not investigated. She was not charged and yet was appointed as CEO of a government bank.)

“So, kung ikaw ang involved sa pagre-release ng pondo para sa flood control projects at biglang nag-resign ka, ngayon appointed as CEO ng isang government bank, anong tawag dito? Ano sa palagay ninyo? Rewarded?” Magno added.

(So, if you were involved in the release of funds for flood control projects, suddenly resigned, and are now appointed as CEO of a government bank, what do you call that? What do you think? Rewarded?)

Malacañang was asked if Pangandaman’s appointment indicates that she is cleared of wrongdoing in the eyes of the President and retains his full confidence.

Palace Press Officer Undersecretary Claire Castro answered: “Iba naman po ang usapin po kasi ng patungkol sa anomalya sa flood control projects. Kung meron po silang nakikitang mga ebidensya laban kay dating secretary Amenah Pangandaman, bukas po ang Pangulo sa anumang klase ng pag-iimbestiga.”

(The issue regarding the alleged anomalies in the flood control projects is a separate matter. If they see any evidence against former Secretary Amenah Pangandaman, the President is open to any form of investigation.)

“Wala naman po sigurong masama kung i-appoint po niya ang isang taong sa tingin niya ay makakapagtrabaho nang maayos,” she added.

(There is probably nothing wrong if he appoints someone whom he believes can get the job done well.)

GMA News has reached out to Pangandaman for her comment on the issue.

Pangandaman has previously denied allegations linking her office to the spending of national budget funds, adding that they do not have the manpower to individually verify every project proposed by the Department of Public Works and Highways.

GMA News has also sought updates from the Office of the Ombudsman, which previously said it will investigate the possible involvement of Pangandaman in the flood control scandal.

Pangandaman resigned from his post as Department of Budget and Management (DBM) secretary in November 2025 out of “delicadeza,” amid allegations tying her to the flood control scam.

It can be remembered that Pangandaman was implicated in the flood control anomalies by fugitive and former congressman Zaldy Co.

The lawmaker said that Pangandaman allegedly told him that the President had ordered the insertion of P100 billion during the bicameral conference for the 2025 national budget.

“Nagsimula ito noong tumawag si Sec. [Amenah] Pangandaman sa akin noong nag-umpisa ang bicam process last year 2024. Ang sabi niya, katatapos lang ng meeting nila ni Pangulo at may instructions na mag-insert o magpasok ng P100 billion worth of projects sa bicam,” Co said.

(This started when Sec. [Amenah] Pangandaman called me when the bicam process began last year, in 2024. She told me that she had just finished a meeting with the President, and there were instructions to insert P100 billion worth of projects into the bicam.)

Marcos had earlier denied the allegation. –Lyjah Tiffany Bonzo/NB, GMA News