2010 ACTIVITIES

21 April - 22 April 2010

2-Day Workshop on Islamic Trade Finance, MOF, Brunei Darussalam

A workshop entitled Islamic Trade Finance was held for 2 days at the Ministry of Finance. It was jointly organised by the Brunei International Financial Centre, Ministry of Finance and the Centre of Islamic Banking, Finance and Management (CIBFM). The workshop was presented by 2 key presenters who are well-versed in the Islamic Finance industry - Professor Dato' Dr. Mohd Azmi bin Omar, a Professor at the International Islamic University and Dr. Engku Rabiah Adawiah bte Engku Ali, an Associate Professor at the International Islamic University Malaysia. Participants from the Ministry and several other financial institutions including banks, enjoyed the Workshop which provided an overall view on Trade Financing from Islamic perspectives. The Workshop has also given participants latest issues and development involving the practical and operational aspects on trade financing i.e. Shariah, accounting and legal.

2009 ACTIVITIES

30 November - 4 December 2009

10th MAS Banking Supervisors Training Programme, Singapore

Dyg Nooraznah also attended a leadership course which was also held in Singapore from 30th November to
4th December 2009. The ‘10th MAS Banking Supervisors Training Programme’ was organized by the Monetary Authority of Singapore Academy (MAS). Some ofthe topics included in this programme were MAS’ Financial and Macro-Surveillance, Anti-Money Laundering and Combating Financing of Terrorism.

 
25 - 26 November 2009

2-Day Workshop On Islamic Funds and Investment: Products and Instruments

Following the success of a preliminary workshop on Islamic Finance held in October this year, another workshop on the subject of Islamic Funds and Investment was organised for 2 days at the Ministry of Finance. The workshop was also co-organised by the Centre of Islamic, Banking, Finance and Management (CIBFM) and Centre for Research and Training (CERT), Malaysia. This workshop is an imperative course as it highlights the current trends and development in Islamic finance. Participants were presented and exposed with topics on
Islamic Capital Market, the emerging growth of Islamic Real Estate Investment Trusts (REITS), Islamic Private
Equity and Islamic Hedge Fund. The workshop was conducted by a renowned lecturer from the International
Islamic University Malaysia, Dr Aznan Hasan.

 

 

15 – 20 November 2009

3^rd Regional Leadership Programme for Securities Regulators, Singapore

A Regional Leadership Program for Securities Regulators was attended by Dyg Mahani and Dk Faadzilah in Singapore from 15 – 20 November. The course was co-organised by the Monetary Authority of Singapore and the Toronto Centre.  During the course, interesting topics were brought up which included Current Issues for the Securities Industry, Effective Communication and Stakeholder Management and also case studies on a number of prominent financial institutions.

 

8 – 14 November 2009

4.    3^rd SEACEN Advanced Leadership Course: Central Banking Leadership in Times of Turbulence, Kuala Lumpur, Malaysia

Dyg Nuralia and Dyg Hjh Nurliati (of Financial Institutions Division) attended the 3^rd SEACEN Advanced Leadership Course organized by the SEACEN Centre, from 8 – 14 November 2009 in Kuala Lumpur, Malaysia. The participants particularly were given the chance to learn how to be effective leaders. Among the programs in this course were Understanding Individual Leadership Challenges, Leadership Styles and Behavioural Impact and Becoming A Successful Central Bank Leader.

                         

 

2 - 12 November 2009 

Inaugural Brunei-Malaysia-Singapore Trilateral Leadership Development Programme, Singapore, Malaysia and Brunei Darussalam

Dyg Suriati, one of the attendees from Brunei Darussalam joined the 1^st Trilateral Civil Service Leadership Programme organized by CSC (Singapore)-Intan (Kuala Lumpur) – IPA (Brunei) from 2 – 12 November 2009 in Singapore, Malaysia and Brunei Darussalam. The objectives of this programme were to give the opportunity for better networking between the public sector officers in Brunei, Malaysia and Singapore and to provide a platform for participants to exchange ideas on latest challenges faced.

                             

 

2 - 5 November 2009

6^th Kuala Lumpur Islamic Finance Forum (KLIFF) and 4^th Muzakarah Penasihat Syariah

Kewangan Islam, Kuala Lumpur, Malaysia

Dyg Nuralia and Dyg Noor Izzah attended the 6^th Kuala Lumpur Islamic Finance Forum (KLIFF) and the 4^th Muzakarah Penasihat Syariah Kewangan Islam which was held in Kuala Lumpur, Malaysia from 2 – 5 November 2009. This annual event gathered prominent Shariah Scholars and several experts in banking and finance from all over the world. A number of key issues were raised during the Forum, some of which included were the development of Sukuk and discovering the challenges ahead in Islamic banking and finance.

 

 

26 - 29 October 2009

31^st Meeting of SEACEN Directors of Research and Training, Kuala Lumpur, Malaysia 

Dyg Suriaiti binti Haji Mohd Taib with 2 officers from Brunei Currency and Monetary Board, Awg Haji Aminuddin and Dyg Rina Hayane attended the 31^st Meeting of SEACEN Directors of Research and Training on 26 – 29 October. In conjunction with this meeting, Ms Suriati attended a 2-day workshop on “Driving High Performance Through Coaching” and “Creating A Coaching Culture In Central Bank”. There was also a workshop on “Macro-finance Links and MP Management” attended by the BCMB officers.

                               

 

5 - 7 October 2009

3-Day Workshop On Shariah Issues in Islamic Finance – Practical and Interactive Approach of Shariah Issues and Governance for Islamic Banking and Finance

A 3-day workshop entitled “Shariah Issues in Islamic Finance –Practical and Interactive Approach of Shariah Issues and Governance for Islamic Banking and Finance” was held at the Ministry of Finance, organised by Centre For Research and Training (CERT) from Malaysia with the collaboration of Centre for Islamic, Banking, Finance and Management (CIBFM), a subsidiary research centre under the Ministry of Finance.  A pool of experts and officers from the Ministry and other banking institutions attended the stimulating workshop. Amongst the interesting topics that were discussed included Sukuk and structured products/Islamic derivatives, Shariah review and auditing and also risk management approach in Islamic financial services. This workshop was conducted by 3 different presenters, Dr Aznan Hasan, from the International Islamic University Malaysia (IIUM); Dr. Syed Musa Al Habshi of the International Institute of Islamic Finance (IIIF) and Dr. Asyraf Wajdi Dusuki, from the International Shariah Research Academy for Islamic Finance (ISRA).     

                                                                                                                       

 

2008 EVENTS

24 November 2008

Sixth Brunei Roundtable 2008 : Global Finance and Investments

 

The Brunei International Financial Centre (BIFC), Ministry of Finance organized its Sixth Brunei Roundtable at the Empire Hotel & Country Club, Brunei Darussalam on 24 November 2008. This year’s roundtable was entitled “Global Finance and Investments” and was co-organized with Asia Asset Management, Hong Kong.

The Guest of Honour was Yang Berhormat, Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abd Rahman bin Haji Ibrahim, Minister of Finance II, who had graciously delivered a keynote address during the opening ceremony. The opening remark was delivered by Yang Mulia, Dato Paduka Awang Haji Ali bin Apong, Permanent Secretary, MOF. Also attending the showcase were Yang Mulia Awang Haji Bahrin bin Abdullah, Permanent Secretary, MOF, Deputy Permanent Secretaries, Heads of Departments and Senior Officials at the Ministry of Finance, participants from the local financial institutions and foreign delegates from various financial sectors.

During the opening ceremony, a presentation on Islamic Insurance was delivered by an invited speaker, Mr Ajmal Bhatty, CEO, Tokio Marine Middle East. The other topics that were presented and discussed during the roundtable include insurance, Islamic funds and investments, asset management trends and implications brought by the global market downturn and financial crisis. The invited foreign speakers and panellists includes representatives from leading financial institutions in the region such as Lloyd Management, DBS Asset Management, Aberdeen Asset Management, CIMB, ING, APG Investments Asia, Mercer Investment Consulting, BNP Paribas Asset Management, SG Asset Management and many others.

 

Please click here for copies of speakers’ presentations.

v  Ajmal Bhatty, Islamic Insurance – The New Growth Sector

v  Chris Darling, Asia: The Last Growth Frontier in a Global Downturn

v  Jeroen Schreur, Managing Assets Through Turbulent Times

v  Sam Hanbury, Risk Management During Market Crises

v  Edmond Defontenay, Société Générale Asset Management

 

26 - 28 November 2008

PROMOTIONAL MEETINGS AND SHOWCASE ON BRUNEI IBCs BY OCRA (BRUNEI) LIMITED

 

On 28 November 2008, OCRA (Brunei) Limited, which is a trust company licensed under BIFC, organized a promotional showcase on the use of Brunei International Business Companies (IBCs) in Shanghai. OCRA Brunei was represented by Mr Bart Dekker, Group Managing Director - Asia Pacific and Mr Wuei Chua, Buiness Development Director. The event was also organized together with their branch office in Shanghai, which was represented by Ms Helen Zhang, Business Development Manager. Two of BIFC’s officers, Ms Suriati Taib and Mr Mohayazeed Azraee Mohammad Jasni had also attended the event. Also joining was Ms Alvina Chung, Branch Manager of Baiduri Bank.

The showcase aimed to promote Brunei Darussalam as the preferred jurisdiction to conduct international businesses and to promote the use of Brunei IBCs. It was conducted in the form of a half-day seminar with presentations made by Wuei and Alvina. The showcase was well attended by OCRA’s target clients comprising of law firms, accounting firms, tax planners, company wholesalers and bankers. Prior to the showcase, OCRA also held a few one-on-one meetings with their target clients, which the BIFC officers also attended.

   

 

  

BIFC PROMOTIONAL SHOWCASE AND MEETINGS

Tokyo, Japan, 26 November 2007

On 26 November 2007, BIFC with the Ministry of Foreign Affairs and Trade, Brunei Darussalam jointly organised a promotional showcase in Tokyo, Japan. The purpose of the showcase was to introduce Japanese financial institutions to the investment opportunities available in Brunei, and the services offered by the BIFC and provided an opportunity to promote Brunei Darussalam as an Islamic International Financial Centre. The showcase, attended by about 40 guests, was made in form of a presentation by representatives of Ministry of Finance and was followed by one-on-one meetings with various financial institutions.

 
 
 

BIFC GATHERING 2007

Ministry of Finance, 8th November 2007

A Hari Raya Gathering was held on 8th November 2007 at the Ministry of Finance Lobby and was attended by the Permanent Secretary of the Ministry of Finance, Senior Ministry of Finance officials as well as BIFC licensees.


BIFC REGULATORY VISITS

Dublin and Luxembourg, 24th-30th October 2007

In the marketing and promotion area, Brunei International Financial Centre organised regulatory visits to Dublin and Luxembourg on 24-30 October 2007. The delegation led by the Permanent Secretary of the Ministry of Finance, had meetings with the regulators and market players. The visits gave BIFC a deeper understanding of the success factors and benefits that both Dublin and Luxembourg experienced through the development of the financial services sector.

ASEAN FINANCE MINISTERS' INVESTOR SEMINAR

New York, USA, 23rd October 2007

A delegation from BIFC led by the Permanent Secretary of the Ministry of Finance attended the ASEAN Finance Ministers’ Investor Seminar in New York. The Permanent Secretary of Ministry of Finance delivered a talk on the ASEAN’s growth potential and contributions for enhanced foreign investments during the panel discussion. The Seminar also gave BIFC the opportunity to promote Brunei Darussalam as a wealth management centre in the region and met with several related financial institutions to discuss and promote benefits of alternative investments offered by BIFC.

BRUNEI ROUNDTABLE 2007

The Empire Hotel & Country Club, 30 July 2007

 

The Brunei Roundtable 2007 with the theme ‘Managing Today’s Assets for Tomorrow’ was organised by Asia Asset Management together with BIFC on 30th July 2007 at the Empire Hotel & Country Club, Brunei Darussalam. The main objective of the roundtable was to explore and discuss opportunities in fund management as well as related regulatory environment in the country. The roundtable focused on presentations covering topics on asset management, fund management, pension funds and selected Islamic finance topics. The event also allowed participants an opportunity to engage in discussions on the related subjects. The event was well received by about 120 participants. The Guest of Honour at the roundtable was the Minister of Finance II and the keynote address was delivered by Deputy Permanent Secretary.

  
 
 

4th IFSB SUMMITand IFSB COUNTRY SHOWCASE

Dubai, 14th May 2007

 

A delegation from BIFC led by the Permanent Secretary of Ministry of Finance participated in a country showcase in Dubai, in conjunction with the 4th IFSB Summit on 14 May 2007. The theme for the Summit was ‘The Need for A Cross Sectoral Approach to Supervision of Islamic Financial Services’. The showcase entitled “Brunei Darussalam – The Preferred Islamic Financial Hub” aimed to provide an overview of BIFC’s products and services especially in fund and asset management to the financial community in the UAE. About 40 participants attended, represented by the banks and fund managers from Dubai, Bahrain, Kuwait and Qatar.

FUND MANAGEMENT OPPORTUNITIES IN BRUNEI

Ministry of Finance, 15 September 2005

The Brunei International Financial Centre, Ministry of Finance, on 15 September 2005, organized a seminar entitled “Fund Management Opportunities in Brunei”, at the Ministry of Finance Theatre, Commonwealth Drive, Brunei Darussalam. The main objective of the seminar was to explore and discuss opportunities of fund management business as well as the related regulatory environment in the country.  The seminar mainly focused on presentations by the BIFC and was attended by Ministry of Finance departments, senior Bank representatives and Corporate Organizations.

 

HALF DAY CONFERENCE ON "ISLAMIC FINANCE - A COOPERATIVE APPROACH TO PRIVATE INFRASTRUCTURE DEVELOPMENT"

The Empire Hotel & Country Club, 15 September 2003

On 15 September 2003, the Ministry of Finance, in co-operation with the Emerging Markets Partnership (Brunei) Ltd and Islamic Development Bank, Jeddah hosted a half day conference entitled “Islamic Finance – A Cooperative Approach to Private Infrastructure Development”.  This conference was organized in order to increase awareness on Islamic Financial products, to promote Islamic Financing as a viable way to for infrastructure projects funding and to correct the misconception of Islamic Finance being linked to undesirable or illegal activities. It was also an opportunity for BIFC to promote itself as a primary financial centre for both conventional and Islamic financial products. Presentations were given by HE Dr Ahmad Mohamed Ali, President, Islamic Development Bank of Jeddah; Dr Rifaat Ahmad Abdel Karim, Secretary General, Islamic Financial Services Board (IFSB); Mr Mumtaz Khan CEO, Emerging Markets Partnership (Bahrain) E.C; Mr Abdul Rais Abdul Majid, CEO, International Islamic Financial Market and Mr A. Robert Miller, Head of Supervision, Brunei International Financial Centre. The event was well attended by members of the Government Departments and Ministries, Banks, Corporate Organisations, CFMM 2003 Delegates, Embassies & High Commissions.