BIBD wins Best Managed Bank in Brunei Award

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Managing Director and CEO of BIBD Mubashar Khokhar (2nd R) receiving the awards at The Asian Banker’s Future of Finance Summit in Bangkok, Thailand. Image: Courtesy of BIBD.

BANDAR SERI BEGAWAN

Bank Islam Brunei Darussalam (BIBD) marked another significant milestone after being conferred with the “Best Managed Bank in Brunei Award” by The Asian Banker and its Managing Director and Chief Executive Officer was also honoured with “The Asian Banker CEO Leadership Achievement for Brunei Award”.

This win for BIBD comes on the back of it being conferred as ‘Best Retail Bank in Brunei’ by the region’s leading financial services research, benchmarking and intelligence consultancy for the seventh consecutive year.

In a press statement, the bank’s Managing Director and CEO Mubashar Khokhar said the bank is humbled by the recognition which stands as a testament to the commitment and efforts of the entire leadership team of BIBD and its employees.

“In fact, these awards would not have been possible without the trust and support of our employees, customers and stakeholders. This achievement will, InsyaAllah, spur us on to grow further in our endeavour to be a partner in progress for the nation and all of Brunei’s citizens,” he said.

The Asian Banker Leadership Achievement Award is widely acknowledged by the financial services industry as the highest possible accolade available to professionals in the industry.

Managing Director and CEO of BIBD Mubashar Kokhar (2nd R) receiving the awards at The Asian Banker’s Future of Finance Summit in Bangkok, Thailand. Image: Courtesy of BIBD.

The rigorous recognition process takes stock of the organisation’s financial performance, measuring the stated vision and strategy against actual achievements, taking into account the feedback of customers, staff and the industry through various surveys and the validation of an esteemed panel of experts.

The Asian Banker, in a statement, said that Mubashar is being recognised for successfully fortifying the bank’s market dominance in Brunei, steering the bank to be the market leader in terms of assets, deposits, financing and profitability.

“Placing major emphasis on enhancing the bank’s products and service propositions to attract more potential customers, the Household Bank Strategy that he introduced for the retail banking businesses enabled the bank to capture 61 per cent of the Brunei market,” it said.

The Asian Banker also took into consideration the development of BIBD’s digital platform that consolidated the bank’s digital offerings under a single umbrella, to address the challenge of rapidly evolving needs of the Bruneian customers.

Between 2016 and 2018, under the leadership of Mubashar, BIBD has seen the volume of digital transactions grow threefold via the BIBD NEXGEN platform.

The Bruneian