BIBD Recognized As Best Retail Bank In Brunei 2012

1-Earth Hour


Bank Islam Brunei Darussalam Berhad (BIBD) yesterday was conferred as the winner of the Best Retail Bank in Brunei for the year 2012 during the 12th International Excellence in Retail Financial Services Award Ceremony which took place at the Westin Chosun in Seoul, Korea on March 21st, 2013, organised by The Asian Banker (TAB).

Present on hand to receive the momentous award on behalf of BIBD were Mr Imran Samee, Head of Consumer Banking, along with Hjh Nurul Akmar Binti Haji Mohd Jaafar, Deputy Head of Consumer Banking, who is also Head of Corporate Social Responsibility. Mr Samee commented “This is a landmark milestone for BIBD, being the first Islamic Bank to win the Best Retail Banking honour in Brunei Darussalam, an achievement only equalled by the fact that BIBD’s presence has been strengthened amongst all the large multinational banks present in Brunei Darussalam”.

This recognition builds on the proven successes of earlier awards won in the year, namely winning the Islamic Finance News (IFN) “Structured Finance Deal of the Year 2012” for the Brunei Gas Carriers (BGC) Sdn Bhd US$170 million Islamic Financing Facility, IFN “Turkey Deal of the Year 2012” for the Republic of Turkey’s US$1.5 billion sovereign Sukuk, the “Tawarruq Deal of the Year 2012” for Al-Baraka Turk US$ 450 million Syndicated Financing and the IFN “Best Islamic Bank 2012” in Brunei Darussalam. BIBD Ar-Rahnu also recently scooped the “Social Service Award” at the Asia-Pacific Enterprise Leadership Awards (APELA) 2013 held at the Marina Bay Sands in Singapore.

Winning this award showcases as a great achievement and progress for BIBD and Islamic banking and finance, pushing it onto better heights, not only in Brunei Darussalam, but also regionally. BIBD managed to increase its market share in key retail product segments against a backdrop of industry requirements and competition certain retail while also successfully achieving growth in new businesses. This was achieved by the bank’s focus on core products such as home financing, home improvement financing, debit cards, process improvements, distribution and channel diversifications, and building an effective and a motivated direct sales team. Furthermore, BIBD has also made many significant improvements in terms of technology and channels, through the introduction of BIBD Mobile and BIBD Online, along with launching one of the most popular home financing products in Brunei – BIBD Rumah Plus.

BIBD’s Managing Director Javed Ahmad agreed, “Alhamdulilah, not just for BIBD, but also for the development of the Islamic banking industry as wining such a prestigious award shows great evolution, as it really sets aside what BIBD has achieved throughout the years.” He continued to comment that, “BIBD has had a very good 2012 and that Insya-Allah, 2013 will bring many more successes to come as BIBD comes off from strength to strength in further supporting not only its own ambitions, but also the ambitions of continuing the growth of Brunei Darussalam’s industries, a continuous commitment we strongly hold to help the country achieve its goal of achieving a developed nation status by 2035.”

The International Excellence in Retail Financial Services 2013 Awards ceremony was held in conjunction with the region’s most prestigious retail banking event, the Excellence in Retail Financial Services Convention.

About 150 senior bankers from award-winning banks in 29 countries across the Asia Pacific, the Middle East, Central Asia and Africa attended the glittering event that recognised their efforts in bringing superior products and services to their customers. The awards programme, administered by TAB and refereed by prominent global bankers, consultants and academics, is the most prestigious of its kind.

Author: Reedz