In line with Brunei Darussalam's aspiration to contribute to the development of the Islamic financial industry, especially in the innovative and fast growing area of Islamic financial planning, an Islamic Financial Planning Week (BIFPW) was launched yesterday. It was held at the Rizqun International Hotel, The Mall, yesterday.

Present to officiate the event was Minister of Culture, Youth and Sports, Pehin Orang Kaya Seri Dewa Major General (Rtd) Dato Seri Pahlawan Hj Awg Mohammad Hj Daud. The endorsement of BIFPW was in line with Brunei's aspiration to contribute to the development of the Islamic financial industry, the innovative and fast growing area of Islamic Financial planning, in particular. BIFPW Manager in his welcoming speech said that since the very beginning, Islam has provided a finance management system that was not only for Muslims but globally and covers all economic systems needed in this millennium.

Banking and Islamic financial issues are a topic that is currently talked about from the preparation of banking industry aspects particularly Islamic banking towards globalisation and liberalisation. He also added that general public views noted that the market for Islamic economy is a niche market which is less two percent from total asset managed in the Islamic way.

But the fact is that the Islamic economy market in the aspect of its potential is bigger compared to conventional market but currently the Islamic market is small as it is not utilise or still unable to be completely developed, a role that should be shouldered by professionals in this field. BIFPW aims to educate the public in their need to plan their finances, share the Islamic stance on financial planning, conduct an annual survey on gauging the financial literacy rate of the participants.