Consisting of both Islamic and conventional insurers and insurance products, the Sultanate’s insurance sector has held steady in recent times, despite strong external pressures on Brunei Darussalam’s economy. Non-life remains a dynamic segment, with Islamic takaful products making up the bulk of these general insurance premiums. This...
The year 2016 marks the first year of operation for the ASEAN Economic Community (AEC), while it is also an important milestone in the creation of another, even larger international trading group, the Trans-Pacific Partnership (TPP). The Sultanate has been a key supporter of both groupings, as well as a long-time member of another regional...
How have standardisation efforts affected the industry, including for takaful (Islamic insurance)?
Brunei Darussalam made headlines in April 2016 with the announcement of several sukuk (Islamic bond) offerings ahead of the launch of a standalone stock exchange in the Sultanate. Efforts to expand the scope of the financial sector are aimed at ensuring a greater diversity of public and private sector financing, specifically in support of...
With a strong Islamic banking sector, a growing Islamic insurance (takaful), industry and an expanding market for Islamic bonds (sukuk), Brunei Darussalam has recently been drawing much attention internationally as a centre for Islamic financial services (IFS). Indeed, Brunei Darussalam is now amongst the nine countries worldwide...
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