| Aziz Idris |
WITH the rising global demand for Islamic finance, the Brunei Darussalam Islamic Investment Summit (BIIS) 2017 hopes to produce financial experts and professionals.
They will develop the lucrative financial industry, in line with the nation’s aspiration to become a reputable Islamic financial hub.
With this, the various components in Islamic finance will see a spur in innovative products and services whilst also encourage economic growth.
This was among the key points highlighted by Managing Director of Autoriti Monetari Brunei Darussalam (AMBD), Yusof bin Haji Abdul Rahman during the final day of BIIS 2017 held at The Empire Hotel & Country Club yesterday.
The managing director pointed out that the Islamic financial experts will not limit their expertise to Syariah only but also cover other areas such as management, economic, audits, actuarial and investments.
He is confident that with the knowledge gained from the summit, the development of innovative Islamic financial products and services with respect to the Maqasid Al-Syariah (the branch of Islamic knowledge) can further be established in a comprehensive and sustainable Islamic financial environment that are both stable and transparent.
“In order to achieve these goals, in line with the Brunei Darussalam Financial Sector Blueprint, AMBD has provided certain initiatives such as the ‘Professional Fiqh Muamalat’ programme offered by Centre for Islamic Banking, Finance and Management (CIBFM) and supported by the Syariah Financial Supervisory Board, where third-party recruitment is currently being accepted.
“I hope the alumni for this year’s programme will continue to support and engage in developing expertise in the Islamic finance industry as well as establishing cooperation and interaction with local institutions of higher learning, Insya Allah.
“I also hope that through the summit and the discussion sessions, we all are equally benefited and guided by the perspective of our partnership in developing the rising demand of the Islamic finance industry,” he noted.
This year’s theme, ‘Globalisation of Islamic Finance: The Road Ahead’ reflects the current global dynamics and sophisticated financial flows that are in line with international best practices and global economic needs.
This rapid growth and development include infrastructure facilities and operating platforms such as Fintech development, rules and standards together with product innovations and services.
The summit also reached a milestone this year as it marked 25 years since Brunei’s first Islamic financial system was introduced by Perbadanan Tabung Amanah Islam Brunei (TAIB) in 1991.
The managing director thanked the panel of speakers and participants of BIIS 2017 that have made the two-day event a success in bringing further enrichment to the Islamic financial industry both nationally and internationally.
The summit saw an attendance of over 200 participants from government ministries and agencies, financial institutions and the private sector as well as members of the Legislative Council.
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