Islamic Financial Services

Islamic services have long been a part of the financial mix within Brunei Darussalam. For the past two decades, Islamic banking, takaful (sharia-compliant insurance) and Islamic capital market products have been taking root and growing. These services now compete strongly against their conventional counterparts and continue to capture market share. With the government promoting sharia-compliant products and hoping to position the country as a regional centre for Islamic financial services, it seems that conventional banking and insurance products might find themselves in the minority within the Sultanate in the not too distant future. This chapter contains an interview with Javed Ahmad, Managing Director, Bank Islam Brunei Darussalam.