|Name||Bank Islam Brunei Darussalam Berhad (BIBD)|
|Business||Full-service Islamic financial institution|
|Head Office||Lot 159, Jalan Pemancha, Bandar Seri Begawan, BS 8711, Negara Brunei Darussalam|
|Total Group Assets||BND 7.5b At year end (2015, audited)|
|Group Profit after Zakat and Taxation||BND 106.7m (2015, audited)|
|Group Capital Adequacy Ratio Tier 1 (Core Capital)||23.3% (2015, audited)|
|Group Net Non-Performing Financing Ratio||4.7% (2015, audited)|
|Credit Rating||A- (Stable) by S&P Global (17.2.2017)|
The Bank started operations in 1981 as the Island Development Bank. It was converted to a full-fledged Islamic bank in January 1993 and changed its name to Islamic Bank of Brunei. Through a merger with Islamic Development Bank of Brunei, Bank Islam Brunei Darussalam was formed in 2005. BIBD is Brunei Darussalam’s largest bank and flagship Islamic financial institution.
An internationally recognised financial institution governed by global best practices and an experienced management team, BIBD is committed to meeting the needs of customers from all walks of life. Challenged and stimulated by an ever-changing environment, BIBD brings technology and innovation to the fore for improved processes and accessibility.
Headquartered in Bandar Seri Begawan, the Bank has fifteen branches at strategic locations in Brunei’s four districts and the Brunei’s Leading Financial Institution largest network of ATMs in the country. As Brunei Darussalam’s flagship Islamic bank and largest financial services provider, with over 700 employees and B$ 6 billion worth of assets under management, BIBD proudly serves more than 100,000 consumers.
This includes Consumer, Corporate as well as Institutional clients, thanks to its presence across the country, availability of the largest Contact Centre in Brunei Darussalam, and innovative solutions such as internet and mobile banking.
BIBD is the only bank in Brunei Darussalam that serves all sectors and segments within the retail banking market. With a strong focus on innovation and excellence, BIBD has been consistently recognized for its superior customer service and ability to deliver value to all its stakeholders. It is through continuous hard work, effort and commitment from our people that we are able to provide seamless and innovative services to our customers, and ensure that their banking experience with us is unique and best-in-class.
Since the commencement of its transformative journey, BIBD has undertaken a reformation of its brand with upgrades in its overall service delivery and branch design, which depict the Islamic visual canvas of Brunei Darussalam. This distinct identity sets BIBD apart from other financial institutions in Brunei Darussalam, while establishing a service benchmark that truly is “Bruneian at Heart”. The amalgamation of all these efforts places BIBD in a stronger position to deliver its expectations and move forward in the local and international arena.
- Ministry of Finance, Brunei Darussalam
- Sultan Haji Hassanal Bolkiah Foundation
- Fajr Capital Limited
- Approximately 6,000 individual Bruneian investors
Bruneian at Heart
BIBD’s ethos perfectly captures the essence of inclusiveness of Islamic Banking: BIBD is the bank for all Bruneians regardless of race or religion; offering smart, safe and practical banking services and solutions that support the ambitions of the Bruneian community. We deeply understand Bruneian culture and aspirations, thus enabling us to offer solutions that best fit the needs of our customers.
In 2014, we continued to demonstrate our Bruneian at Heart values and showcase our commitment to realising Bruneians’ and Brunei Darussalam’s aspirations. We made improvements in our IT infrastructure to ensure that banking with BIBD is an effortless and enjoyable experience for everyone. By spearheading digital delivery through our BIBD Mobile and Online applications, we were able to reach customers in different market segments and offer our products and services to wider parts of the community.
The year also saw the launch of refurbished and rebranded PERDANA Privilege Banking that feature upgraded facilities and better ambience for an improved customer experience, ensuring that the best services are delivered to all of BIBD’s existing and potential customers.
The introduction of the PERDANA Privilege Banking service further enhanced the banking experience of BIBD’s affluent and high net-worth customers, providing them with exclusive banking facilities and services, as well as dynamic banking solutions. The one-of-a-kind experience offered at the exclusive PERDANA Privilege Banking lounge sets the Bank apart from other competitors in the nation.
Engaging our People and Community
Our achievements over many years of service are testament to our talented and stellar workforce who embodies our principles every day. We take the time and serious effort to invest in our employees by enrolling them in specialised training courses to provide our talent pool with the expertise required to serve customers beyond their expectations.
People are at the forefront of our operations and our cultural climate has transitioned positively following our rebranding journey. It is BIBD’s motivated and dedicated workforce that has propelled the bank to the next level, proving our commitment to investing in our people to provide top-of-the-line products and services, as well as providing sound financial management advise, has been worthwhile.
BIBD’s Corporate Social Responsibility rounds off the bank’s philosophy of empowering the community through three core pillars: education; entrepreneurship and community. Our CSR is designed to complement the true values and benefits of the Bank’s product and service offerings, aligned with growing expectations of an organization’s social purpose.
BIBD’s CSR efforts, which began in 2008, are employee-led, with staff from all our divisions contributing to the success of these initiatives. The activities aim to bring staff members from various departments together to support the Bank’s own initiatives and instill a sense of responsibility in contributing and supporting the community.
In 2014, our CSR initiatives included contributions to and participation in youth development programmes, donations for disaster aid, and education scholarship for underprivileged children. These initiatives have allowed us to give back to the community in more ways than one and, most importantly, aligning the Bank’s initiative in line with His Majesty’s 2035 vision of obtaining a 100% level of education for everyone. These efforts allow us to make meaningful contributions that will ultimately benefit our country in the long run.
BIBD is committed to solid corporate governance and is fully guided by the principles and regulations set forth by the Autoriti Monetari Brunei Darussalam (AMBD), National Syariah Financial Supervisory Board (NFSB) and the Company’s Act Chapter 39. The Bank has sound internal control and risk management in place with internationally benchmarked standards, especially in the financial, shariah and risk practices.
Active Subsidiaries & Associate
BIBD At-Tamwil Bhd
BIBD Securities Sdn Bhd
Syarikat Takaful Brunei Darussalam (Associate)
BIBD Al-Kauthar Funds DCC Incorporated
Belait Barakah Sdn Bhd
A wholly-owned subsidiary, mainly handling the provision of Islamic hire-purchase facilities
A wholly-owned subsidiary, providing gold investments and brokerage services for both local and foreign Islamic shares listed on the Kuala Lumpur and Singapore stock markets
It provides general and family takaful services through its subsidiaries: Takaful Brunei Am and Takaful Brunei Keluarga
For the provision of fund management services
For the provision of vessel leasing facilities
|MD'S Office||Ak Ashrin bin Pg Md Zaidiemail@example.com|
|Media||Dk Rodzi Pg Hj Abd Rahmanfirstname.lastname@example.org|
|Media||Abang Shairazi Abang Zainuddinemail@example.com|