Islamic Financial Planning For All
By James Kon & Sonia K.

Bandar Seri Begawan - The public should also play a significant role in together restoring the financial position of the nation as a whole, said Pehin Orang Kaya Seri Dewa Major General (Rtd) Dato Seri Pahlawan Awang Hj Mohammad bin Hj Daud, the Minister of Culture, Youth and Sports, in the opening ceremony of 2nd Brunei Islamic Financial Planning week yesterday morning.

"Islam encourages its followers to plan their finance, taking example of Nabi Yusuf (a.s.) who planned his finance for 15 years ahead. In relation to that, the government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam is always working to update and assess the financial planning on the national level," he said "Islamic financial planning is new and just been established a few years ago.

And Brunei Darussalam represents one of the countries that started to introduce Islamic financial planning. It is a complete plan to of systematic and efficient ways of managing an individual's finance as well as the family, to achieve objectives which is in line with syariah," the minister added.

He further said: "Among the objectives are to achieve a comfortable standard of living for family members and oneself, as well as free from the burden of financial problems."

The financial planning culture will be inculcated into society if financial planners are responsible in helping clients effectively. Failure to follow the holistic approach as a whole will hinder the Islamic Financial Planning Industry, said the minister. In relation to this, he urged financial planners to equip themselves with Islamic Financial Planning knowledge though systematic education.

The minister said, "The Islamic Financial Institution can help prepare innovative Islamic Financial products that will involve members of the public to improve their financial situation." Also present to deliver an opening speech was BIFPW Project Manager Farris Faisal Hj Rahman where he mentioned that last year's response was encouraging as participants listened to the talk delivered as well as to-gain advice from trained staff of banks especially in the field of Islamic Financial Planning.

He also mentioned that the Islamic Financial Week would highlight the importance of financial planning and the need to build a financial base for the future.

The objectives of BIFPW are to educate the general public on the need to plan their finances (financial planning), in line with His Majesty's recent titah’s on financial planning, to share the Islamic stance on financial planning, to conduct an annual survey on gauging the financial literacy rate of the participants as well as to inform public on the availability of trained financial planners mainly in the area of Islamic financial planning.

Other objectives are to introduce the Dome of Needs as a tool to do Islamic Financial Planning, to share tactics on debt management, to give options on various Islamic financial planning tools and solutions available and lastly to give back the `after sales service'.

Earlier yesterday morning, EncikAzman Ismail delivered a talk on Islamic Dome of Needs and other topics delivered throughout the day were such as Islamic Investments - The Malaysian Experience by Mr Phua Lee Kerk, Faraid - The Missing Link in Financial Planning, Zakat, Takaful in Islam. There were also several product promo from Bank Islam Brunei Darussalam, Perbadanan TAIB and Insurans Islam TAIB.

The event was sponsored by Royal Brunei Airlines, Brunei Shell Marketing Company Sdn' Bhd, The Empire Hotel and Country Club, Shim's Advertising, Brunei Press Sdn Bhd, EZY Printing Services, Intracop-(B) Sdn Bhd and Neptune Enterprise (B) Sdn Bhd.-- Courtesy of Borneo Bulletin

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