Africa: Islamic Development Bank (IsDB) Group Day Highlights Strategic Business Opportunities and Economic collaborations in Brunei

Access Multimedia Content

BANDAR SERI BEGAWAN, Brunei Darussalam, September 12, 2024/ — The Islamic Development Bank (IsDB) Group (www.IsDB.org) co-hosted its inaugural IsDB Group Day with Bank Islam Brunei Darussalam (BIBD) in collaboration with the Ministry of Finance and Economy, Brunei at the prestigious Balai Khazanah Islam Sultan Haji Hassanal Bolkiah. This event marked a significant milestone in fostering economic collaboration and unlocking new Business opportunities between Brunei Darussalam and the 57 member countries of the IsDB Group.

The event started with an opening ceremony, featuring a welcome address by), The Honourable Dato Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister’s Office, Minister of Finance and Economy II, followed by a keynote speech from Mr. Amer Bukvic, Director of the IsDB Group Regional Hub of Indonesia. The event included presentations from key IsDB Group entities, and a workshop on Islamic finance and strategic partnerships, as well as B2B (Business-to-Business) meetings aimed at fostering direct business and investment opportunities.

A key focus of the event is to support Brunei’s private sector through IsDB Group entities such as the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Islamic Corporation for the Development of the Private Sector (ICD), including the Islamic Development Bank Group Business Forum (THIQAH), and International Islamic Trade Finance Corporation (ITFC). These engagements aim to strengthen Business-to-Business interactions, encourage knowledge sharing, and explore new markets for mutual benefit.

In his welcoming address, the Honorable Dato Seri Setia Dr. Haji Mohd Amin Liew bin Abdullah, “highlighted Brunei’s significant growth in Islamic finance, with assets reaching B$13.3 billion, positioning the country as a key player globally. He discussed opportunities for deeper collaboration between Brunei and the Islamic Development Bank in infrastructure, agriculture, MSMEs, and sustainable projects, while also emphasizing the strong relationship between Brunei and OIC and the potential for further cooperation”

Mr. Amer Bukvic, Director of the IsDB Group Regional Hub of Indonesia highlighted, ” we mark the significant mile stone in our partnership as we gather to celebrate IsDB Group Day – a Day that symbolizes the strength of our shared commitment to fostering sustainable development and inclusive growth, he also added that the country engagement Framework (CEF) signals a new chapter in our cooperation, setting the stage for deeper engagement in areas that align with Brunei’s strategic vision”

The event also saw the signing of a Memorandum of Understanding (MoU) between BIBD and IsDB Group, which will pave the way for a partnership that focuses on joint financing, treasury activities, trade finance, human capacity development, sustainable development and investment, among many others. The MoU aims to enhance BIBD’s support for Brunei’s national economic objectives and advance IsDB Group’s mission of promoting sustainable development.

Social Media:
X: @ isdb_group
Facebook: Islamic Development Bank (IsDB)
LinkedIn: @ isdb_stories
Instagram: Islamic Development Bank Group
isdb.org @isdbgroup

Media Contact:
Email:
media@isdb.org
www.IsDB.org

About the Islamic Development Bank (IsDB) Group:
Rated AAA by the major rating agencies of the world, the Islamic Development Bank is the pioneering multilateral development bank of the Global South that has been working for 50 years to improve the lives of the communities it serves by delivering impact at scale. The Bank brings together 57 Member Countries across four continents, touching the lives of nearly 1 in 5 of the world population. Its mission is to equip people to drive their own economic and social progress at scale, putting the infrastructure in place enabling them to fulfil their potential. Headquartered in Jeddah, Kingdom of Saudi Arabia, IsDB has regional hubs and canters of excellence in 11 of its Member Countries.  Over the years, the Bank has evolved from a single entity into a group comprising five entities: Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI) tasked with research and training, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC).

About Bank Islam Brunei Darussalam:
Bank Islam Brunei Darussalam (BIBD) is Brunei’s largest Islamic bank and a leading financial institution in the country. Established in 2005, it offers a wide range of Shariah-compliant banking products and services, including retail banking, corporate banking, and investment solutions. BIBD plays a key role in promoting Islamic finance in Brunei and supports the country’s economic diversification efforts in line with Brunei Vision 2035. Known for its commitment to innovation and customer service, BIBD has earned recognition for its digital banking services and financial inclusion initiatives.

About Ministry of Finance and Economy, Brunei:
The Ministry of Finance and Economy (MOFE) in Brunei Darussalam is a key government agency responsible for managing the country’s fiscal policies, economic planning, and financial regulations. It plays a central role in ensuring the sustainable development of Brunei’s economy, aligning financial and economic strategies with the nation’s Vision 2035, which seeks to diversify the economy away from oil and gas dependency. MOFE oversees government revenue collection, budgeting, public expenditure, and financial institutions. It also focuses on enhancing economic growth through initiatives aimed at fostering private sector development, promoting trade and investment, and improving the overall business environment in Brunei. The ministry is crucial in formulating policies that enhance financial governance, encourage innovation, and support the country’s broader socio-economic goals.

Safe sender instructions / Privacy Policy / Unsubscribe / Update My Preferences