Islamic banking in Brunei Darussalam

Islamic banks in Brunei Darussalam have recently been quite successful in controlling 11.5 per cent of the total deposits in the nation. At this moment, however, they can be categorized as an evolving financial intermediary. Thus, there is a need to complement the existing system with capital markets, as a high proportion of the national savings is placed overseas. The government can assist in providing the necessary push for the advancement to the next phase of capital markets. It is important to keep the 'spirit and flame' growing in the progress of Islamic banking. In this aspect, Brunei Darussalam has seen tremendous change and improvement from practically zero Islamic banking to a feasible and practical approach in just over half a decade. However, more creative techniques need to be undertaken to suit the financial needs of firms based on their distinct requirements. Hence, retail banking is not enough. Islamic Investment banking and retail banking must integrate in order to