Bank Islam Brunei Darussalam (BIBD) was awarded the Best Bank for Islamic Wealth Management Solutions in Brunei Darussalam 2024 at Cambridge Islamic Funds Awards (CIFA).
The ceremony, in Jeddah, Saudi Arabia, saw BIBD’s Managing Director and Chief Executive Officer Junaidi bin Haji Masri accepting the award on behalf of the bank.
Members of BIBD’s management team were also in attendance.
CIFA, known for its rigorous evaluation process, acknowledge and honour premier wealth management solutions globally.
The award’s focus on key criteria include Syariah Compliance Assurance, Consistent Fund Performance, Innovation in Islamic Asset Management, Risk Management Practices, and Ethical Investment and Governance Strategies. BIBD’s win underscores the bank’s commitment to uphold the highest standards of Syariah compliance, while delivering reliable Islamic wealth management solutions to clients.
The decision to award BIBD was reached after deliberations by the awards committee, which considered numerous institutions.
BIBD was chosen based on its adherence to the CIFA methodology, which emphasises unbiased performance measurement, focusing on the returns delivered to investors irrespective of the associated risks.
The methodology reflects a belief in rewarding funds demonstrating consistent performance, maintaining compliance with Syariah principles, and exhibiting ethical standards in asset management.
