Islamic Financial Services
From The Report: Brunei Darussalam 2014
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Islamic banking and insurance, or takaful, are becoming the dominant forms of banking and insurance, and inbound foreign investments are increasingly channelled into Islamic markets. The Sultanate’s largest bank is an Islamic lender, dominating the domestic market as well as developing into an international player in Islamic finance. The rise of takaful has been aided by strong support from the government and close relationships with local Islamic banks.

This chapter contains an interview with Javed Ahmad, Managing Director, Bank Islam Brunei Darussalam.

Articles from this Chapter

Overview

Government backing is reinforcing the industry’s strong momentum
OBG
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Islamic finance has had a growing presence in Brunei Darussalam since the early 1990s, with active support from Sultan Hassanal Bolkiah. Today the Islamic banking and takaful (Islamic insurance) segments are transitioning into the dominant forms of banking and insurance in the country, and the Sultanate’s large foreign investments are increasingly channelled into Islamic products and markets. Already Brunei Darussalam’s largest bank, Bank Islam Brunei Darussalam (BIBD) is increasingly dominating…

Interview

OBG talks to Javed Ahmad, Managing Director, Bank Islam Brunei Darussalam (BIBD)
OBG
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Interview:Javed Ahmad In what ways have local banks responded to tighter credit conditions, and to what extent has there been a shift in focus in terms of lending? JAVED AHMAD: The new regulations have been effective at limiting the amount of personal financing that can be provided, establishing a fixed-rate pricing framework and setting a minimum deposit rate for investors. To a large extent, every nation wants to see how the economy can be made more vibrant, and financing plays an important…

Interview

OBG talks to Javed Ahmad, Managing Director, Bank Islam Brunei Darussalam (BIBD)
OBG
plus

Interview:Javed Ahmad In what ways have local banks responded to tighter credit conditions, and to what extent has there been a shift in focus in terms of lending? JAVED AHMAD: The new regulations have been effective at limiting the amount of personal financing that can be provided, establishing a fixed-rate pricing framework and setting a minimum deposit rate for investors. To a large extent, every nation wants to see how the economy can be made more vibrant, and financing plays an important…