Some 70 representatives from Brunei’s cooperative sector gathered at the Ministry of Finance and Economy for a specialised workshop on integrating Islamic financial principles into business operations.
The fourth instalment of the Cooperative Development Unit’s (UPK) talk series, titled “The Importance of Business Zakat Distribution in the Context of Cooperatives,” provided practical guidance on Sharia-compliant wealth management.
The full-day session at the ministry featured expert presentations from the Zakat, Waqf and Baitulmal Department, focusing on accurate zakat calculation methods for business assets and proper handling of inheritance nominees.
Participants, comprising board members and management staff from various cooperatives, engaged in active discussions about implementing these religious obligations while maintaining commercial viability.
A UPK spokesperson noted the growing recognition among cooperatives that zakat management serves as both a spiritual duty and sound business practice.
“The strong turnout demonstrates how Brunei’s cooperative sector is maturing, with members seeking to align their operations with Islamic principles,” the spokesperson observed.
The workshop included practical case studies demonstrating successful zakat integration across different cooperative models, from retail to agricultural enterprises.
All attendees received a comprehensive zakat calculation toolkit developed by the department, with the UPK announcing plans for follow-up sessions to monitor implementation progress.
The ministry views such capacity-building initiatives as crucial for developing cooperatives into sustainable components of Brunei’s economic diversification strategy.
The event concluded with certificate presentations to participants, marking another step in the government’s efforts to professionalise the cooperative sector while maintaining strong Islamic financial foundations.
THE BRUNEIAN | BANDAR SERI BEGAWAN
