Launch of Islamic Finance Conference

The improvement of expert and professional resources in Islamic Finance should be studied and be given priority. It should not just focus solely on Shari'ah expert but also Islamic finance experts in fields such as management, legal, audit, economy, investment and others. Expertise in those components would lead to the development of innovative products and Islamic finance services that fulfil the Shari'ah compliance, and at the same time create a comprehensive and lasting sustainable and authentic Islamic Financial System. Awang Yusof bin Haji Abd Rahman, the Managing Director of Autoriti Monetari Brunei Darussalam, AMBD made the remarks in a speech at the official opening of the Brunei Darussalam Islamic Finance Conference 2017 this afternoon.

The Managing Director said to achieve the goal which is inline with the Brunei Darussalam Financial Sector Blueprint, the AMBD has prepared certain initiatives that included the Fiqh Muamalat Programme offered by the CIBFM and supported by the Shari'ah Financial Supervisory Board. It is hoped the programme's alumni would continue to support and be involved in the development of expertise in the Islamic Finance Industry.

In a working paper, Dato Seri Setia Awang Haji Metussin bin Haji Baki, Member of Autoriti Monetari Brunei Darussalam Board of Directors titled, " Cabaran badan Penasihat Syariah di era globalisasi" said success in Islamic banking development is based on concepts contained in Al-Quran and Al-Sunnah, Ijma' dan Qias. However, if new issues arise, fiqh scholars would make a decision based on supportive evidence.

Meanwhile, another topic, "Cabaran Masakini dalam membentuk nilai-nilai patuh syariah dalam saham dan pelaburan" was delivered by a 3-member panel. Among other things, the forum shared the true meaning of Shari'ah compliant and permitted Islamic investment, the challenge of International Standardisation and the effect of the economic crisis on investments as well as its impact on the Shari'ah-based portfolio.

The Muktamar of conference was attended by Members of the Legislative Council. It was organised by the Center For Islamic Banking, Finance and Management, CIBFM and fully supported by Autoriti Monetari Brunei Darussalam, the AMBD. The theme of the conference was "Globalisasi Kewangan Islam: Melangkah Ke Hadapan" or Globalisation of Islamic Finance: Moving Forward. The event took place at the Indera Samudera Grand Hall, Empire Hotel and Country Club in Jerudong.

Source: Radio Television Brunei

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