IslamicFinance.de

According to a report from the Oxford Business Group Brunei's financial system is in transition to one in which Islamic banking and takaful are the dominant forms of banking and insurance. The publication of the Report says that in 2014, Brunei two Islamic banks, Perbadanan Tabung Amanah Islam Brunei and Bank Islam Brunei Darussalam had a total combined assets of $7.9 billion at the end of 2013. Takaful is also dominant in the general insurance sector with a 68 per cent share of the general insurance and takaful assets. Insurance Islam TAIB and Takaful Brunei compete in Brunei’s insurance market.