Bank Islam Brunei Darussalam (BIBD), the Sultanate’s largest Islamic financial institution, has once again been recognised as the Best Retail Bank in Brunei by The Asian Banker – the region’s leading financial services, research, benchmarking and intelligence consultancy.
This marks the eighth consecutive year the bank has won and retained the prestigious award, showcasing the dedication and commitment to deliver superlative products and services to its customers.
The latest award comes after the bank was named Best Islamic Bank in Brunei by Global Finance Magazine and Best in Islamic Finance Asia Pacific 2020 by the International Investor.
According to The Asian Banker, BIBD exhibited a solid retail banking franchise in 2019 and cemented its leading position in Brunei by securing a majority of the country’s retail deposits and consumer financing portfolio. The introduction of cashless initiatives such as cashless payments using NFC technology and a marketplace for Internet app eCredits accelerated the bank’s digital transformation and improved customer experience.
BIBD was also commended for strengthening partnerships with key stakeholders across various industries in Brunei through the BIBD NEXGEN Wallet and introduction of BIBD QuickPay to a wider audience, leading to double-digit growth in digital transactions and customer logins.
BIBD Managing Director and CEO Mubashar Khokhar said, “Last year, we began the journey towards our new mission of becoming Best Islamic Bank in Asia-Pacific. This aspiration has instilled a drive and determination amongst all of us at the bank, and despite challenging market environments, Alhamdulillah, BIBD’s retail segment has continued to perform extremely well.
“Our sincere gratitude goes to our customers, associates, regulators and stakeholders as it is only with their support that the bank has been able to achieve this milestone of eighth consecutive win.”