BIBD hands over B$1.6 Million in Business Zakat

Bank Islam Brunei Darussalam (BIBD) and its subsidiaries today performed its obligation as a Business by handing over its zakat on business for the financial year 2022, along with zakat for customer deposits, to the Brunei Islamic Religious Council (MUIB).

BIBD’s Business zakat amounted to B$1,683,443.61 while zakat for customer deposits for the period of 25 April 2022 to 24 November 2023 amounted to B$744,726.62, derived from obligations paid by the Bank and its customers.

The zakat were handed over by Yang Mulia Associate Professor Dr Abdul Nasir bin Haji Abdul Rani, Director of the Centre for Graduate Studies, UNISSA as the Chairman of Shariah Advisory Body of BIBD and its subsidiaries to Yang Berhormat Pehin Udana Khatib Dato Paduka Seri Setia Ustaz Haji Awang Badaruddin bin Pengarah Dato Paduka Haji Awang Othman, the Minister of Religious Affairs, in his capacity as MUIB President.

Also in attendance was BIBD’s Managing Director and CEO, Awang Junaidi bin Haji Masri and senior officials from the Ministry of Religious Affairs, BIBD and the BIBD Shariah Advisory Body. The event took place at the Ministry of Religious Affairs building in Berakas.

Being one of the five pillars of Islam, Zakat payment is a method of purifying and distributing wealth, supporting those in need as stipulated by Shariah. In order to facilitate and ease Muslim customers fulfilling their obligations, BIBD has provided the convenience of paying their zakat for customer deposits at all branches nationwide.

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