Bringing awareness to Islamic banking, finance

Rokiah Mahmud

Bank Islam Brunei Darussalam (BIBD) launched a book compiling a collection of its selected resolutions on Syariah-related matters to increase the overall understanding on Islamic banking and finance in the country.

The launching ceremony was held at Tarindak D’Seni in Bandar Seri Begawan yesterday. Syariah Appeal Court Judge and Deputy Chairman of the Syariah Financial Supervisory Board Pehin Orang Kaya Paduka Setia Raja Dato Paduka Seri Setia Haji Awang Suhaili bin Haji Mohiddin was the guest of honour.

Assistant Mufti (Buhuth) of the State Mufti’s Office Dato Seri Setia Dr Haji Mazanan bin Haji Yusof, in his capacity as Chairman of BIBD Shariah Advisory Body, said the launch of the book was one of BIBD’s initiatives in supporting Autoriti Monetori Brunei Darussalam’s (AMBD) Financial Sector Blueprint aspiration of strengthening Brunei Darussalam as an international Islamic financial hub.

“We hope this publication can be used as a guide and reference for those who want to follow the development of the Islamic banking and finance industry in the country, especially Syariah scholars, academics, professionals, legislators, arbitrators and finance at higher learning institutes,” he said.

He hoped the book will be used by the public in understanding the concept of Syariah and how the concepts are applied into BIBD’s products and services as part of promoting transparency and clarity.

Syariah Appeal Court Judge and Deputy Chairman of the Shariah Financial Supervisory Board Pehin Orang Kaya Paduka Setia Raja Dato Paduka Seri Setia Haji Awang Suhaili bin Haji Mohiddin; BIBD CEO Mobashar Khokhar; and officials in a group photo. PHOTO: BAHYIAH BAKIR

“We hope to enhance the public’s trust and support for the products and services offered by BIBD and other Islamic financial products offered by Islamic financial institutions in general,” he said.

Pehin Orang Kaya Paduka Setia Raja Dato Paduka Seri Setia Haji Awang Suhaili said the the compilation of Syariah Advisory Body Resolution will ease the process for those trying to find references.

“Alhamdulillah, the process of compilation, writing and publication of the book was completed and printed by August 2019 and available in two versions – Malay and English – to reach a wider audience.

“The selected resolutions are relevant and suitable for reading, referencing and as a source of information for Syariah advisors, financial practitioners and the public.

“Based on the selected resolutions, it will show how Islamic financial services and products have evolved and innovated in line with other financial products on the market both locally and globally.

“In matters related to financial and Islamic banking, reference of hukum is not only limited to Mazhab Shafi’e but also open concept by referring to other Mazhab of Ahli Sunnah Wal Jama’ah, including Hanafi, Hambali and Maliki.”

An English version of the book is available in soft copy and can be obtained by downloading through a QR Code scan.

High commissioners and ambassadors, members of the Syariah Financial Supervisory Board, BIBD Shariah Advisory Body (SAB), senior government officials and BIBD management and personnel also attended.