Empowering nation’s recovery from COVID-19 and beyond

James Kon

Prudent monetary administration with emphasise on heightened threat administration and community-focussed initiatives continued to be the important thing administration drivers for Financial institution Islam Brunei Darussalam (BIBD) in 2021.

In a yr marred with COVID-19 challenges, BIBD as an organisation intensified efforts on serving to the nation obtain a sustainable financial restoration by creating an ecosystem useful and conducive for the companies and society. Minister on the Prime Minister’s Workplace and Minister of Finance and Financial system II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, in his capability as Chairman of BIBD and its Group of Firms mentioned this on the BIBD Group annual basic assembly (AGM), in overview of the earlier yr throughout which the group launched into a journey to turn out to be a number one sustainable monetary establishment to empower the nation’s restoration from Covid-19 and past.

“Alhamdulillah, I’m heartened to report that BIBD’s monetary place remained resilient and continued to publish revenue in 2021, regardless of challenges posed by the worldwide pandemic and low world yield setting,” the minister added.

In 2021, BIBD Group posted a income of BND317 million, incomes a internet revenue of BND149 million whereas whole belongings went as much as BND10.6 billion.

The group additionally delivered sturdy Return on Fairness (ROE) to its shareholders at 11.6 per cent, enhancing returns and worth to shareholders.

In the course of the assembly, shareholders had been offered with the monetary statements for 2021 and accepted a ultimate dividend of 17.40 cents (BND0.174) per strange share.

In the course of the pandemic, BIBD put stakeholders and society forward of maximising revenue, growing social contributions as a substitute of scaling again to save lots of prices.

BIBD’s actions included enhancing current digital cost programs, growing social programmes and implementing the BIBD Sustainability Framework.

Dato Seri Setia Dr Awang Haji Mohd Amin Liew mentioned, “When the nation recorded the primary locally-transmitted COVID-19 case, BIBD took measures to supply a protected working and enterprise setting for our workers and clients.

“We continued to serve our clients by leveraging our digital banking channels. We prolonged assist to micro, small and medium enterprises (MSMEs), and supported the nation’s chairmanship of the ASEAN Summit.”

He added, “We additionally introduced the BIBD Sustainability Framework, displaying our dedication to sustainability, aligned with the ideas of Maqasid Syariah and in keeping with our ‘Bruneian at Coronary heart’ DNA, to assist the nation in reaching the United Nations Sustainable Growth Targets and Brunei Imaginative and prescient 2035.”

“All through the BIBD Group, now we have begun taking steps in direction of fulfilling this dedication which we are going to, Insya Allah, proceed within the coming years.

“We’re proud to be a Accomplice in Progress for the nation, supporting authorities businesses in direction of sustainability whereas supporting the neighborhood by means of our company social accountability programmes.

“Insya Allah, by means of the continued management and dedication of our Board of Administrators, Syariah Advisory Physique and the concerted efforts of the entire BIBD Group, BIBD will attain better heights in assembly the aspirations of our members, clients, workers and the neighborhood,” the minister mentioned.

The assembly at The Empire Brunei was additionally attended by members of the BIBD Board of Administrators, the BIBD Syariah Advisory Physique, shareholders, BIBD senior administration group and officers.