Corporate Profile
Here are some facts about us.
Key facts
| 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 10.7b at year end (2019, audited) |
| Group Profit after Zakat and Taxation | BND 155.4m (2019, audited) |
| Group Capital Adequacy Ratio Tier 1 (Core Capital) | 18.1% (2019, audited) |
| Credit Rating | A- (Stable) by S&P Global (16.7.2020) |
BIBD, Brunei’s largest bank and flagship Islamic financial institution, was formed in 2005 through the merger of Islamic Bank of Brunei and Islamic Development Bank of Brunei. It is an internationally recognised financial institution governed by global best practices under the guidance of an experienced management team. BIBD is committed to meeting the needs of our customers from all walks of life through continuous service, product and technology innovations.
As Brunei’s flagship Islamic bank and largest financial services provider, with around 900 employees and B$ 10.7 billion worth of assets under management, we proudly serve more than 216,000 customers. Our valued customers include retail, corporate as well as international clients.
Headquartered in Bandar Seri Begawan, we have seventeen branches at strategic locations in Brunei’s four districts and the largest network of ATMs in the country, serving over a quarter of the Bruneian population. Thanks to BIBD’s presence across the country, we have the largest contact centre in Brunei along with a digital mobile chat capability, and offer our customers convenience through solutions such as internet and mobile banking.
BIBD is the only bank in Brunei that serves all segments within the retail banking market. With a strong focus on innovation and excellence, we have been consistently recognised for our dedicated customer service and ability to deliver value to all our stakeholders. It is also 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 our transformative journey, BIBD has made great strides in the development of its capabilities, which included upgrades in its overall service delivery and branch design that 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 is truly “Bruneian at Heart”. The amalgamation of all these efforts places BIBD in a stronger position to deliver on its aspirations and forge ahead in the local and international arena.
BIBD is a bank for the people of Brunei, built by the people of Brunei. Our ethos perfectly captures the essence of inclusiveness of Islamic banking. We provide smart, safe and practical financial services and solutions to our customers regardless of race or religion, ultimately supporting the ambitions of the Bruneian community. BIBD’s long-standing record of intrinsically and genuinely understanding the aspirations and culture of Brunei Darussalam inspires and enables us to constantly innovate to offer solutions that best fit the needs of all our customers.
As the leading Islamic financial institution in Brunei, BIBD recognizes that fostering trust and providing assurance to its customers, stakeholders, and the Brunei public is essential. This is why BIBD has implemented a comprehensive Corporate Governance Framework to uphold the integrity and quality of its products, services, operations, and business activities. The framework encompasses several key elements, including:
- An understanding of the interface between BIBD’s various stakeholders (internal and external), to facilitate effective engagement and management of their interests and expectations. This extends to its shareholders, business counterparts, employees, and regulators.
- Actionalising its operations and business activities operate on the following fundamentals:
- Compliant with Shariah.
- Compliant with applicable laws.
- Embracing ethical values and standards and embracing principles sustainability as part of its governance culture.
- Emplacement of sound internal controls.
- Transparency and accountability of the decision-making process of key organs of BIBD through the methodical division of their roles and responsibilities.
- Integration of common values, cohesive governance, and risk management related policies across the BIBD Group (“Group Alignment”) to ensure the collective integrity and soundness of the business and operation of the BIBD Group.
Through the assimilation of common values, cohesive governance, and sound risk management policies across the BIBD Group, the institution strives to uphold collective integrity and ensure the robustness of its operations.
BIBD's commitment to sound corporate governance which emphasizes transparency, accountability, and operational integrity, not only underscores its dedication to meeting the highest standards of ethics and compliance but also reinforces its role as a ‘Bruneian at Heart’ financial institution in Brunei, as it continues to prioritize the interests of its stakeholders and work towards sustainable growth and prosperity for the Brunei economy.
- BIBD At-Tamwil Bhd
A wholly-owned subsidiary, mainly handling the provision of Islamic hire-purchase facilities
- BIBD Securities Sdn Bhd
A wholly-owned subsidiary, offering Islamic wealth management products and brokerage services for local BIBD shares and foreign securities listed on the Kuala Lumpur and Singapore stock markets
- Syarikat Takaful Brunei Darussalam (Associate)
It provides General and Family Takaful services through its subsidiaries: Takaful Brunei Am and Takaful Brunei Keluarga
-
Better Sdn Bhd
A subsidiary fully owned by BIBD At-Tamwil providing car-leasing services
-
BIBD (Middle East) Limited
A wholly-owned subsidiary of BIBD and a regulated entity by the Dubai Financial Services Authority (DFSA) for the provision of conducting Islamic financial services which includes arranging deals in investments; advising of financial products; arranging credit and advising on credit.
- Khazanah Satu Sdn Bhd – 34%
- Yayasan Sultan Haji Hassanal Bolkiah – 25%
- Salam Investments Limited – 30%
- Approximately 6,000 individual Bruneian investors – 11%