What is the Full Form of TAIB ?

Tabung Amanah Islam Brunei - Tabung Amanah Islam Brunei (TAIB) is an Islamic financial organization in Brunei Darussalam. It was hooked up in 1991 as a result of the merger among two present Islamic financial institutions, Perbadanan Tabung Amanah Islam Brunei (PTAIB) and Lembaga Tabung Islam Brunei (LTIB).TAIB is an entirely-owned subsidiary of the Ministry of Finance in Brunei Darussalam and is supervised with the aid of the Autoriti Monetari Brunei Darussalam (AMBD), the country's relevant financial institution. It operates under the standards of Islamic finance, which prohibits charging or paying hobby and instead emphasizes profit-sharing, risk-sharing, and moral making an investment.

TAIB is its financial savings account, which operates on the principle of Mudharabah. Under this device, the depositor affords the price range, while TAIB manages and invests the price range. Any earnings generated from the investments are shared among TAIB and the depositor, consistent with an agreed profit-sharing ratio. The organization additionally offers funding debts that allow clients to make investments their money in quite a number Shariah-compliant investment products, such as sukuk (Islamic bonds), shares, and price range.Consisting of savings debts, funding accounts, financing for private and business purposes, and different economic services. The organization additionally gives offerings associated with zakat, or Islamic charity, which include the collection and distribution of zakat budget.