Consolidation Financing Scheme

Relieving you from financial burden.

Features & Benefits

  • Consolidation of ALL or several financing facilities into a single monthly payment
  • A fresh start in better management of financial commitments
  • Enjoy higher take home pay and an improved quality of life
  • Shariah Concept
    • The Shariah concept applicable is Tawarruq
    • Tawarruq, also known as Reverse Murabahah, refers to the process of purchasing a commodity for a deferred price determined through Musawama (bargaining) or Murabaha (mark-up sale), and selling it to a third party for a spot price so as to obtain cash.
  • Eligibility
    • Employed with Brunei Government, Semi-Government or private companies approved by BIBD including self-employed individuals.
    • Existing Total Debt Service Ratio must exceed 60% in order to be eligible to apply.
    • Only financing facilities that were granted before 8th June 2015 are allowed to be consolidated.
    • Only financing facilities under the name of the Applicant are allowed to be consolidated.

    The final entitlement shall be subject to BIBD’s internal credit policies and assessment.

  • Required Documents


    • Original copy of Identification Card
    • Original copy of latest Salary Slip
    • Letter of Confirmation (Salary / Pension / Service Contract)
    • Statement of Account with other Financial Institutions (where applicable)
    • Certificate of Balance from Financing Institutions, including Finance Companies (where applicable)
    • Business Registration Certificate (where applicable)*

    Subject to BIBD’s assessment of the company’s/customer’s employment profile.

  • Fees and Requirements

    For more details, please refer to the Bank's Schedule of Tariffs or the list of applicable rates for this product.

    Please read this Product Disclosure Sheet before you decide to take the Personal Financing. Be sure also to read the General Tawarruq Terms and Conditions of Sale.


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