Brunei offered help to develop Islamic finance

Kuwait Finance House-Bahrain (KFH-Bahrain) has offered assistance in developing its Islamic finance industry to a visiting high-level delegation from Brunei.

Led by the Minister of Development and Brunei Monetary Authority deputy chairman Suyoi Haji Osman, the delegation met leaders of Bahrain’s top Islamic financial institutions.

The Southeast Asian country recently launched a series of measures and laws aimed at promoting the Islamic finance industry in order to enforce Sharia law.

During the meeting, KFH-Bahrain officials made a presentation on how the Islamic finance industry was developed in Bahrain and how it could be further developed in the future.

“With the growing role of the Islamic banking industry in the global economy and its increasing contribution in the support of counties and their provision of job opportunities, it is essential that nations should provide an appropriate investment environment and competent legislative frameworks in order to attract Islamic financial institutions,” KFH-Bahrain managing director and chief executive Abdulhakeem Alkhayyat said.

“The Islamic finance industry has the ability to support the growth of the economy via its infrastructure and further strengthen its financial sector,” he added.

*This article was originally published on Gulf Daily News on 10 June 2014. Read the original article here.