Brunei has still to fully develop its Islamic finance sector. There are great opportunities for foreign Islamic banking institutions to forge ties with the Brunei government and its banking institutions in pushing the business.
Islamic Finance has developed into a $1 trillion global business with the dynamics to reach far more. The epicenters of this industry are in the Middle East and ASEAN, with sizeable cash flow between the two regions.
Malaysia’s emergence as the undisputed Islamic finance hub of the world is much more about developing a syncretic system based on social justice than observing all the rigours that derive from Quran teachings.
Barwa Bank, a fast growing young financial institution in Qatar, is taking the sector by storm. After having managed a lot of funding deals recently, the bank is in full swing to become a major player in the region.