Manila: Malaca±ang on Monday clarified that President Ferdinand R. Marcos Jr.'s recent appointment of former Budget Secretary Amenah Pangandaman as chairperson and CEO of the state-run Al-Amanah Islamic Investment Bank of the Philippines should not be interpreted as an exoneration regarding the ongoing flood control anomalies investigation.

According to Philippines News Agency, Palace Press Officer Claire Castro emphasized that Pangandaman's new role is distinct from the ongoing investigation, and the appointment does not imply any judgment or absolution from the President. Castro reiterated during a Palace briefing that the appointment is unrelated to the flood control projects and should not be seen as indicative of any stance by the President.

Castro further stated that the investigation is ongoing, with the administration committed to allowing authorities to investigate any implicated individuals. The government, according to Castro, maintains an open stance on investigating anyone, regardless of their affiliations or relationships.

Pangandaman currently faces no criminal charges, and Castro highlighted that determining criminal liability is not within the President's purview. She assured that those with evidence are free to file cases with appropriate authorities.

The investigation is being conducted by the Office of the Ombudsman and the Department of Justice, ensuring proper procedural handling. Pangandaman resigned as Budget Secretary in November 2025, along with Executive Secretary Lucas Bersamin, following their links to the probe into alleged irregularities in flood control projects.

Al-Amanah Islamic Investment Bank, the only Islamic bank in the Philippines, operates as a government-owned and controlled corporation.