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BIBD launches 5th cycle of BIBD Aspirasi

Lyna Mohamad

The fifth cycle of Bank Islam Brunei Darussalam’s (BIBD) BIBD Aspirasi, the hugely successful Certificate of Deposit product which is aimed at instilling the discipline of regular savings and rewards customers with attractive cash prizes, was officially launched yesterday.

Offering a potentially life-changing reward of BND250,000, the latest iteration of BIBD Aspirasi calls on the public to create an impact toward the greater good with their aspirations.

The launch was announced by Head of Product Engineering at BIBD Retail Banking Group Lim Pea Chia at a press conference held at BIBD building in the capital.

Lim noted that through Aspirasi 5, the bank will once again be rewarding over 400 winners with total cash prices of BND870,000 over the coming year.

She also noted that in response to the success of Aspirasi 4, BIBD has increased the maximum deposit amount to BND450,000 while maintaining the low minimum deposit of BND50, enabling everyone to save and be part of the rewards programme.

Muhammad Iqbal Fakri bin Haji Damit and Head of Product Engineering at BIBD Retail Banking Group Lim Pea Chia during the press conference. PHOTO: LYNA MOHAMAD

Since it was first launched, BIBD Aspirasi has seen encouraging growth recording an average growth rate of 88 per cent over the years.

In this latest iteration of BIBD Aspirasi, it shares the story of inspiring local heroes, specifically Muhammad Iqbal Fakri bin Haji Damit, a youth advocate and community leader who was recently announced as the ASEAN Prize 2022 recipient.

Muhammad Iqbal’s inspiring story and aspirations to help others encapsulate the essence of BIBD Aspirasi, and calls on everyone to play their part in making a difference, whether big or small and members of the public will be able to follow the aspirational journey of Muhammad Iqbal throughout the journey of Aspirasi 5.

Aspirasi 5 continues to provide a multiplier effect which rewards customers for maintaining their savings for a longer period with deposits held between 181 to 270 days will be entitled to double the number of entries, while deposits held 271 days and more will be entitled to triple the number of entries.

Over the course of the next 12 months, Aspirasi 5 will be rewarding 35 monthly winners with BND1,000 each, which totals to 420 monthly winners over 12 months and five quarterly winners with BND10,000 each (totalling 20 quarterly winners over four quarters). The highlight of this savings initiative obviously will be the grand prize winner who will walk away with BND250,000.

To be eligible for the rewards programme, deposits must be held for a minimum of 90 days with a minimum holding deposit of BND50 through the entire duration of the programme.