Over 50 percent of the total market in Brunei Darussalam has been under the Islamic Financial Assets since it was first adopted. This was shared by Dato Seri Paduka Awang Haji Ahmaddin bin Haji Abdul Rahman, Deputy Minister of Finance and Economy for Fiscal, as Chairman of the Brunei Darussalam Central Bank, BDCB at the hybrid Syariah Advisory Conference, SAC 2022. The conference took place yesterday morning at the International Convention Centre, Berakas.

The Deputy Minister of Finance and Economy for Fiscal said the Islamic finance ecosystem in the country among others included Islamic banks, takaful operators and Islamic finance companies. In 2018, BDCB issued notice and guidelines that require Islamic financial institutions in the country to establish Syariah governance framework to make Brunei Darussalam as an international hub for Islamic finance.

The conference was organised together with the Brunei Institute of Leadership and Islamic Finance, BILIF and the Accounting and Auditing Organization for Islamic Financial Institutions, AAOIFI with the support of BDCB. Apart from that, the conference was also held in collaboration with Bahrain Institute of Banking and Finance, and the Cambridge International Financial Advisory as the international media and marketing.

Source: Radio Television Brunei