The Brunei Investment Agency has reached an agreement with Fajr Capital Ltd to acquire its 29.73% stake in Bank Islam Brunei Darussalam (BIBD).
Since becoming a shareholder of BIBD in 2010, Fajr Capital has been an active partner in the stellar transformation of BIBD into an award-winning bank with regional presence and global repute.
Minister at the Prime Minister’s Office and Minister of Finance and Economy II, who is the Chairman of BIBD, Yang Berhormat Dato Seri Setia Dr Haji Mohd Amin Liew Abdullah said that the transaction marks a significant new chapter in BIBD’s ongoing transformation.
“I would like to thank Fajr Capital Ltd for its support in BIBD’s development into Brunei’s flagship financial services institution,” he said.
“BIBD remains committed to providing its customers with innovative banking solutions and is well-positioned for continued success in Brunei and beyond,” said YB Dato Amin Liew.
BIBD is Brunei’s largest bank and has received numerous accolades from regional and international institutions including the “Best Managed Bank in Brunei”, the “Best Retail Bank in Brunei” which was awarded to BIBD for 7 consecutive years and “Strongest Bank in Brunei by Balance Sheet” by the Asian Banker.
BIBD was also recognised as Global Finance’s “Safest Bank in Brunei” from 2016 to 2019 and holds an impressive credit rating of A- by Standard & Poor’s since 2014.
The Bruneian | BANDAR SERI BEGAWAN