BIBD invests BND10 million for staff development

With over 900 employees at present, BIBD has allocated nearly BND10 million towards developing its human capital, placing a strong emphasis on upskilling and preparing its workforce for the future of work, especially with the advent of the Fourth Industrial Revolution (IR4.0).

As Brunei’s largest bank and flagship financial institution, BIBD has placed strong emphasis on investing in its human capital towards producing a highly skilled talent pool for Brunei Darussalam, thereby contributing towards achieving Brunei Vision 2035.

BIBD is committed to the development of its staff through various strategies and frameworks.

A year-on-year increase in the bank’s overall learning and development budget reflects the breadth of BIBD’s commitment in ensuring that all its employees have sufficient access to training and development opportunities.

This approach has yielded significant results; while BIBD aims for each employee to participate in one learning programme per year, as of October 2019, it has achieved over 3,000 learning days involving 3,280 participants in total.

With training and certification programmes sourced from local and international benchmark institutions, more than 200 BIBD employees have received professional certifications and qualifications.

As the premiere Islamic financial institution in the country, BIBD is also committed to developing Islamic finance competencies both within the organisation and for the nation in general.

BIBD also places great emphasis on enhancing the bank’s Syariah compliance culture by ensuring that the employees are equipped with Islamic finance knowledge and skills.

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah and Bank Islam Brunei Darussalam (BIBD) Managing Director Mubashar Khokhar during an event. PHOTO: BIBD

This is further reinforced by providing opportunities for employees to enhance their credentials through professional certifications. BIBD has 20 employees certified in Islamic Finance Wealth Management and 66 employees certified in Islamic Financial Planning to date, enabling the bank to deliver highly proficient and informed services to clients.

In 2019, two BIBD staff attended the Durham Islamic Financial Summer School, which aims to provide knowledge, skills and expertise in the Islamic financial sector.

BIBD also provides training opportunities in fields such as compliance, Syariah and IT, among others, to ensure a well-rounded skillset among the bank’s employees. In 2019, almost BND200,000 has been invested into strengthening key and emerging talents focussing on leadership and development programmes and certifications such as Certified Anti-Money Laundering Specialist, Fiqh Mua’malat Professional Programme, Project Management Professional, HR Certified Professional Trainers and COBIT5 Foundations and Assessor programmes.

Overall, the bank has sent more than 200 employees to obtain professional qualifications in various fields.

BIBD also upgraded its Employee Study Assistance Programme recently to empower employees and enable them to take responsibility for their own personal and professional growth and development. Financial assistance is also provided to full-time employees of BIBD and its subsidiaries towards completing educational programmes and professional qualifications, whether locally or abroad.

Two employees are pursuing an Executive MBA programme at the London Business School as well as a Masters programme at Universiti Teknologi Brunei (UTB) under the Employee Study Assistance Programme.

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, in his capacity as Chairman of BIBD Board of Directors, said, “The World Economic Forum’s Global Competitiveness Report, in which Brunei Darussalam is currently placed at 46 out of 137 countries, identifies the basic requirements that contribute to overall competitiveness, with ‘higher education and training’ identified as one of the key efficiency enhancers.

“Therefore, BIBD’s efforts in developing its human capital are part of our mission to create world-class professionals that would enhance the nation’s economic competitiveness and support Brunei Vision 2035 to be, among others, a nation widely recognised for the accomplishments of its well-educated and highly skilled people.”

As BIBD seeks to position itself as the best Islamic Bank in the Asia-Pacific, the bank strongly believes that the foundation of its success – and the country’s future – relies significantly on the quality and efficiency of its people, and it will continue to invest and celebrate its excellent workforce.