Islamic Finance Can Contribute to Socio-Economic Development for a Sustainable Economy in Brunei: BICAM 

Brunei’s Minister of Home Affairs, Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr) Awang Abu Bakar Apong, has highlighted the capacity of Islamic finance to invigorate socio-economic development, as the financial returns generated from it entail positive social and environmental pacts as well.

Why it Matters?

The Minister elaborated that the potential for more innovative solutions and opportunities in Islamic finance lies largely untapped; in particular, in the Islamic capital market sector. Additionally, the use of a more diverse series of financial instruments such as Islamic social finance tools (Zakat, Sadaqah and Waqf), Sukuk and Islamic fintech can be explored deeper to help Islamic finance deliver more in stimulating the already thriv...