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Thursday, 20 December 2007

BMB Wants To Place Brunei In Global Islamic Finance Map

By Azaraimy HH
Bandar Seri Begawan - BMB Group, one of the world's leading Islamic financial institutions, hopes to place Brunei on the map of Islamic banking and financial market in a significant way, BMB Islamic UK chief executive officer, Dr Humayon Dar, announced yesterday at BMB Group's new office at the Empire Hotel & Country Club during a media meet.
"To realise this vision, BMB will bring together major players in the global scene to converge in Brunei for an international conference on Islamic finance to be held here at the Empire Hotel & Country Club next May."
BMB focuses on the Islamic investment management and financial advisory needs of some of the most significant ruling families, high net worth individuals, governments and institutions of the Islamic world, providing these exclusive investors with an unsurpassed investment advisory platform, combining the resources of the world's most significant powerhouse.
"Why this is important for them and how is it possible for Brunei to go up to that level, given the inadequacy of infrastructure and legislation here?" the media asked.
"The possibility of that happening in Brunei is beyond permissible, it is huge and that would benefit greatly the global market and for BMB, its aim, that down the road, there is business for them and their vision is to play a major role in Islamic banking and finance here," Dr Dar explained.
He continued, "When we look at the global centres of excellence in the Islamic finance, we find Bahrain, Kuala Lumpur, and increasingly, Dubai and London are trying to compete for centres of excellence in the Muslim world".
"Brunei is a rich country with an abundance of wealth. The Sultanate can play a major role in the Islamic financial market," he concluded.
If there is enough commitment, Dr Dar predicted that Brunei is able to achieve such level within four to five years. -- Courtesy of Borneo Bulletin
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