Business

Corporate Credit Card

By means of this service, companies will be able to keep track of business-related spending by their executives through a system which is recognised worldwide. The BIBD Corporate MasterCard Credit Card is the only Shariah compliant credit card facility available in Brunei Darussalam which is specially developed to cater for government and private organisations.

BIBD Corporate Card

Security Features

  • Chip based
  • Notifications through SMS alert
  • Fraud Monitoring System
  • MasterCard 3D secure for e-commerce transactions
  • 24/7 Contact Centre and fraud monitoring system (based in Brunei)
Eligibility
  • Limited to Government organisations and Private Limited Company only. Available for Financing and Non-financing account holders.
  • Local registered companies owned in full or part by nationals and permanent residents of Negara Brunei Darussalam.
  • Business must be in accordance with the Shariah principles and in line with the country’s economic development policy.
  • Maintain a corporate account at BIBD for at least six months.
  • Business must be technically and economically viable and capable of servicing the obligations of the corporate credit cards given to its personnel.
Limits

The limits/entitlement shall be set based on the following:

  1. Government-linked companies
    • Subject to the amount required and authorised amount
  2. Other Companies/corporations
    • Based on the credit assessment by BIBD

For Financing Account holder

Up to BND350,000 and depending on Existing Financing Exposure

For non-Financing Account Holder

*Based on company's audited account

*Performance of current account

Term

Two (2) years to be reviewed annually

Fees
  • Annual fee - $50 per card
  • Administration fee 1.5% per month on card limit
  • Replacement fee - $20 per card
  • Late charges – None
Repayment

Two options:

  • 100% of the outstanding balance or
  • 8% of the outstanding balance

*Direct Debit from the account

Documentations
  • Application forms
  • Certificate of incorporation, memorandum and articles of association, Particulars of Director and shareholders
  • Company’s Resolution for corporate MasterCard Credit card application
  • Identity card or passport of company's directors
  • Identity card or passport of company's cardholders
  • Management of Accounts/Audited Accounts(balance sheet and Profit & Loss)

For more details, please refer to the Bank's Schedule of Tariffs.

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