Bank Islam Brunei Darussalam (BIBD)

Bank Islam Brunei Darussalam (BIBD) is the main Islamic financial institution and the largest bank in Brunei, headquartered in Bandar Seri Begawan, with the largest branch and ATM network across the country's four districts. ¹ It has B$10.7 billion in assets and serves more than 200,000 clients. ¹

It began in 1981 as the Island Development Bank, which became the Islamic Bank of Brunei on 13 January 1993; the Development Bank of Brunei, founded in 1995, became the Islamic Development Bank of Brunei in 2001; the two merged in 2005 to form BIBD. ¹

Fajr Capital took a 29% stake in 2010 and sold it to the Brunei Investment Agency in January 2020, making the bank fully Bruneian-owned. ¹ Its owners include the Sultan Haji Hassanal Bolkiah Foundation and some 6,000 private Bruneian investors, with the largest holding held by the government through the BIA and the Ministry of Finance and Economy. ¹ S&P rated it A− in 2015. ¹

Its subsidiaries include Takaful Brunei, an Islamic hire-purchase company, and a Dubai arm regulated by the DFSA. ¹ The Banker named it Bank of the Year in Brunei in 2020, 2021 and 2023. ¹

• English Wikipedia, "Bank Islam Brunei Darussalam", revision 1359471607. ¹