NOTE-TO-EDITOR
28th November 2013
With rich crude oil and natural gas deposits, Brunei has exploited its resources to make the country one of the richest in the world. Brunei has brought significant changes to its regulatory infrastructure, has facilitated Islamic finance, and has robust laws to regulate Islamic banking and Takaful activities. It is in the process of issuing the Capital Market Order (CMO) which will provide impetus to its capital markets growth.
Authoriti Monetari Brunei Darussalam (AMBD), the central bank, issues timely notes to regulate the Islamic finance market. In March 2013 it issued regulation on profit rates for Islamic banks and institutions offering Shariah-compliant residential property financing. More than one-third of its banking assets are Islamic and Takaful has about a 28.5% share in the country’s insurance sector. Takaful has shown a growth of 16.2% in the first quarter of 2013.
Brunei’s Credit Bureau became fully functional in September 2012 and is expected to improve risk management practices of banks and finance companies. A healthy capital adequacy ratio (CAR) for the banks provides a strong signal that the sector is ready for the changing international regulations.
DATE: 28th November 2013
TIME: 8:00 am - 4:00 pm
VENUE: The Empire Hotel & Country Club, Brunei Darussalam
Speakers at this exclusive event also include:
| • | Ahmad Nazim Abdul Rahman - Group Chief Executive Officer, Pelaburan Mara, Malaysia |
| • | Ariff Sultan - Regional Director (Asia), IdealRatings |
| • | Brian Wong - Country Manager, CIMB Investment Bank, Brunei |
| • | Dr Amat Taap Manshor - Chief Executive Officer, Finance Accreditation Agency |
| • | Dr Aishath Muneeza - Islamic Finance Consultant, Housing Development Finance Corporation |
| • | Khaled Mohammed Al-Aboodi - Chief Executive Officer, Islamic Corporation for the Development of the Private Sector |
| • | Mahdzir Othman - Chief Executive Officer, i-VCap Management |
| • | Muhd Jamil Abas bin Abdul 'Ali - Legal Adviser, Abrahams, Davidson & Co |
| • | Mohammed Jalaluddin - President, Ansar Financial Group, Vice Chairman, Islamic & Ansar Cooperative Housing Corporations, Canada |
| • | Sabri Ulus - Head of Treasury & Markets, Bank Islam Brunei Darussalam |
To receive your media pass, register online today!
For more information, please contact Rachael Lim:
+603 2162 7800 ext. 43 or email [email protected]
You can also visit www.redmoneyevents.com/2013/2013_roadshow_brunei.asp
We look forward to welcoming you to IFN Brunei Roadshow 2013!
About REDmoney Group
REDmoney Group is the holding company behind Islamic Finance news, Islamic Finance training and Islamic Finance events all leading products in their own right.
For the past nine years Islamic Finance news has been reaching out and educating new markets globally. For eight years REDmoney has been organizing key Islamic finance events with the focus heavily on education and development and for the past six years the IFN Forum has been visiting key developing Islamic financial markets and providing all interested parties with the perfect stage to assist development.
Heading into its 6th year, the Islamic Finance news Roadshow continues to roam the globe educating and updating the developing Islamic financial markets. In 2013, the IFN Roadshow will visit 12 key markets. These markets are those which our clients have suggested we need to focus and also which we believe will witness exponential growth in the coming years.
A full list of the upcoming 2013 IFN Events are available on our website.
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