Islamic Finance: Regulatory Framework in Brunei Darussalam

Dr Hakimah Yaacob

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This book consists of eight (8) chapters and was developed to provide a general understanding of the regulatory framework of Islamic Finance in Negara Brunei Darussalam. It is suitable for bankers, legal practitioners, academicians, students, and the public. Both theories and practical approaches, supported with diagrams and figures, are presented and incorporated for easy learning.

The book begins by explaining the historical growth of Islamic finance in Brunei Darussalam in chronological order. The discussion continues by explaining how the world banking system influenced the growth of the financial system, including Islamic finance in Brunei, through a pyramidical approach.

The book further analyzes the co-relation of the global regime standards imported into the legal and regulatory frameworks in various segments of finance such as:

Islamic banking
Islamic capital market
Takaful
Social finance
Specialized markets (money remittance, pawnbroking, and fintech)

The Titah, Sabda, Acts, Orders, Standards, Notices, and Guidelines are all incorporated and discussed in detail. The book explains the compliance and Shariah compliance requirements as guided by law. In addition, the book also provides checklists of compliance products for industry guidance. The interactions of key players, customers, financial institutions, and regulators are well explained, revealing the forces of governance and shariah governance related within the financial institutions.

This book is attached with the main international standards regulating banking, securities, and insurance, which are mainly to be referred to and complied with for Islamic financial institutions for reference.

Author Details

Associate Professor Dr Hakimah Yaacob

Dr Hakimah Yaacob is the Head of Postgraduate Study at the Faculty of Islamic Economics & Finance, Universiti Islam Sultan Sharif Ali (UNISSA), Gadong, Negara Brunei Darussalam.

Education: PhD in Law, Master in Comparative Laws, LLB (Laws), and LLB Shariah Law from International Islamic University Malaysia (IIUM). Diploma in Victimology from Tokiwa University Japan.
Appointments: Visiting Professor at Lahore University, Pakistan, Osaka University, Japan, and several universities in Indonesia.
Publications: Contributed more than 300 articles in books, international magazines, proceedings, panels, forums, newspapers, and MOOC YouTube interactive learning. Author of 'Islamic Finance, Governance, and Regulation', 'Halal Governance & Management Malaysia & ASEAN Countries Intermediate To Advance', 'The World Banking System', and 'The Alternative Dispute Resolution (ADR) in Cross Border Disputes of Islamic Finance'.
Awards: Received eleven (11) Best Paper Awards on various issues.
Current Roles: Shariah Board member of Standard Chartered Saadiq, Standard Chartered Labuan, and Sadiq Global. Chairman of the Shariah Board concerning halal assurance compliance. Consultant to develop the Maldives Regulatory Framework. Involved in several policies enhancing shariah finance within the legislation locally and internationally.
Legal Expertise: Acted as Shariah Legal Expert in disputes involving high-profile cases in Malaysia, Brunei, Hong Kong, and Singapore courts.

Product Specifications

ISBN: 9789998451391
Publisher: UNISSA Press
Author: Associate Professor Dr Hakimah Yaacob

Publisher: UNISSA Press
Publication Location: Negara Brunei Darussalam
Suitable for: Bankers, legal practitioners, academicians, students, and the public.