Thursday, 20 June 2024

BIBD pioneering leadership in Islamic finance

5 min read

By Foo Boon Ping

BIBD celebrates its 30th anniversary with a focus on becoming a leading Islamic bank in Asia Pacific, driven by sustainable growth, digital transformation, and a commitment to social responsibility.

BIBD Bank Islam Brunei Darussalam (BIBD) celebrates its 30th anniversary this year driven by an ambition to establish itself as a leading Islamic bank in Asia Pacific. Junaidi Masri, managing director and CEO of BIBD, discussed the bank’s focus on sustainable growth, social responsibility, digital transformation, and leadership in Islamic finance.

BIBD’s initiatives in inclusive economic and human capital development, providing comprehensive financial services, and optimising shareholder value, underpins its vision for banking in the country.

Masri emphasised this, stating: “We are committed to achieving sustainable growth while upholding our social responsibility and maintaining strong financial performance.”

BIBD demonstrates its corporate social responsibility through various initiatives that bolster education, foster community development, and support social enterprises.

The bank embarked on a journey to transform its business model into a digital-first bank 4.0 when BIBD Group pioneered its platform Olive, launched on 3 July 2023, by its consumer finance subsidiary, BIBD At-Tamwil.

BIBD is determined to establish itself as a leading Islamic bank in Asia Pacific. With a keen focus on Islamic finance products and services, the bank aims to play a more prominent role in this sector, catering to the demand for Sharia-compliant banking solutions.

The bank remains dedicated to advancing financial inclusion, with a particular emphasis on bolstering micro, small and medium-sized enterprises (MSME) and supporting local businesses. The bank actively implements initiatives that empower local communities and entrepreneurs, contributing to a more equitable and inclusive economy.

BIBD places a significant focus on nurturing, developing, recognising and celebrating the contribution of its workforce. This includes initiatives related to learning and development, upskilling, and providing avenues for career growth. The bank acknowledges that its employees are instrumental in achieving its ambitious goals.

The bank is also expanding its wealth and portfolio management services to encompass estate planning and legacy management for its clientele. Its holistic approach to financial services addresses not only immediate needs but also long-term financial and wealth planning.

Institution: BIBD, BIBD At-Tamwil
People: Junaidi Masri
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