Bermuda’s Islamic insurance opportunity

Islamic finance offers an interesting alternative to the way the financial sector operates across much of the world. That was part of the message presented by Belaid Jheengoor, a Bermuda-based chartered accountant and asset management executive. He also noted there was still room for a jurisdiction, such as Bermuda, to emerge as an Islamic insurance and reinsurance leader. Today, the largest domestic markets for Islamic finance are Iran, Malaysia and Saudi Arabia. However, a number of non-Islamic countries and jurisdictions are building their presence in aspects of Islamic finance, said Mr Jheengoor. He added that the sector was experiencing double-digit growth.