Last Friday, the Corporate Banking Division of Bank Islam Brunei Darussalam (BIBD) held a customer appreciation day at the Banquet Hall of the Royal Brunei Polo and Riding Club in Jerudong. (All pics courtesy of DCP and BIBD)
YB Pehin greeting some of the guests
Present as the guest of honour was the Chairman of BIBD Pehin Orang Kaya Hamzah Pahlawan Dato Seri Setia Awang Haji Abdullah bin Begawan Mudim Dato Paduka Haji Bakar who is also the Minister of Development. Also in attendance were members of the Board of Directors of BIBD, BIBD’s Acting Managing Director Javed Ahmad and Head of Corporate Banking Division who is also the Chairman of the Organising Committee for the event.
BIBD MD greeting the guests
The aim of the event was for the Corporate Banking Division to show its appreciation to its customers as well as an opportunity for its staff to strengthen their relationship with the customers.
The event also saw the soft launching of BIBD’s Corporate Banking’s new product ‘Musyarakah’. ‘Musyarakah’ is a financing solution designed to assist businesses to finance contracts awarded by the Government of Brunei Darussalam and or Brunei Shell Petroleum Berhad.
Soft launching of BIBD Corporate Banking’s
new product ‘Musyarakah’ by YB Pehin.
The product, based on the concept of Musyarakah, which basically means partnership which in principle refers to the commingling of capital provided by the partners for the purpose of sharing in profit from a pre-agreed business venture. Any profit derived from the venture will be distributed based on a pre-agreed profit sharing ratio, but a loss will be shared on the basis of equity participation.
Musyarakah Corporate Financing product is a facility specifically designed to assist entrepreneurs to finance business activities related to contract awards for the supply of goods either from the Government of His Majesty and Yang Di Pertuan of Negara Brunei Darussalam or Brunei Shell Petroleum Sdn Bhd.
Using the Musyarakah concept, the customer and the bank will participate in the project as equity partners. The customer and the bank will provide capital to finance the project and profit, if any, will be distributed between both parties according to a pre-determined profit sharing ratio. Losses, on the other hand, will also be borne by both parties but based on equity participation.
With this, the client will be entrusted to manage the business venture in the best possible manner to ensure its profitability. Although the bank agrees to share losses, the bank shall be immune from any loss which is caused by the negligence or misconduct of the client.
BIBD’s Corporate Banking Division is located at the second floor of the bank’s headquarters in the capital and also in Kiulap. For more information, please contact 2269555.
BIBD Corporate customers enjoying the excellent spread
Gulintangan or Guling Tangan?
YB drawing a prize
BIBD Corporate Banking Team Freestylin!
Ani serious sikit 😉