Brunei's takaful growth pushes ahead its Islamic finance ambitions

KUALA LUMPUR: Assets held by the Islamic insurance (takaful) sector in Bruneirecently have grown significantly while those of conventional types of insurance have been declining, a report from the country's central bank showed.

The monthly report from Brunei's monetary authority, known as AMBD, said that in the year ended Sept. 30, takaful assets rose 21 percent to 425 million Brunei dollars ($336 million). Conventional insurers saw a drop of 1.3 percent in assets during the same 12-month period.