BIBD Wins Prestigious Best Islamic Wealth Management Solutions Award

In recognition of excellence in Islamic finance, Bank Islam Brunei Darussalam (BIBD) has been honoured with the Best Bank for Islamic Wealth Management Solutions in Brunei Darussalam 2024 at the prestigious Cambridge Islamic Funds Awards (CIFA). The ceremony, held in Jeddah, Saudi Arabia, saw BIBD’s Managing Director and CEO, Junaidi bin Haji Masri, accept the award on behalf of the bank. Members of BIBD’s Management Team were also in attendance.

The Cambridge Islamic Funds Awards, known for their rigorous and transparent evaluation process, acknowledge and honour premier wealth management solutions globally. The awards focus on several key criteria including Shariah Compliance Assurance, Consistent Fund Performance, Innovation in Islamic Asset Management, Risk Management Practices, and Ethical Investment and Governance Strategies. BIBD’s win in this category underscores the bank’s unwavering commitment to upholding the highest standards of Shariah compliance, while consistently delivering innovative and reliable Islamic wealth management solutions to its clients.

BIBD, via its’ subsidiary, BIBD Securities, offers a comprehensive range of fully Shariah-compliant wealth management products. BIBD’s approach to wealth management revolves around our clients, prioritizing their needs and goals in order to deliver personalized solutions. Our objective is to help our clients achieve their financial objectives effectively and securely in a Shariah-compliant manner. In doing so, we endeavor to not only strengthen the resilience of individual investors but also to contribute to the overall resilience and sustainability.

The decision to award BIBD was reached after comprehensive deliberations by the Awards Committee, which considered numerous institutions. BIBD was chosen based on its adherence to the CIFA Methodology, which emphasises unbiased performance measurement, focusing on the returns delivered to investors irrespective of the associated risks. This methodology reflects a fundamental belief in rewarding funds that demonstrate consistent performance, maintain compliance with Shariah principles, and exhibit innovation and ethical standards in asset management.

This accolade is a testament to BIBD’s dedication to providing Shariah-compliant wealth management solutions that meet the expectations of its clientele. BIBD hopes that Bank’s focus on sustainable growth, ethical investment, and strict compliance with Shariah principles will set a benchmark in the Islamic banking industry, not just in Brunei but on a global scale. As BIBD continues to lead the way in Islamic finance, this award from the Cambridge Islamic Funds Awards further solidifies its commitment to innovation, excellence, and the provision of Islamic financial services.

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