BIBD Securities Sdn Bhd (BIBDS) is set to organise an investment challenge aimed at improving financial literacy among the youth in the area of investing.
The six-month challenge begins on June 15, and promises a competitive yet fun environment.
Participants will gain better understanding on the benefits of investing and virtue of a disciplined approach through hands-on experience. Set to take on the challenge are 10 teams, each with two to three participants, made up of undergraduates from higher learning institutions such as Universiti Brunei Darussalam (UBD), Universiti Teknologi Brunei (UTB), Universiti Islam Sultan Sharif Ali (UNISSA), Kolej International Graduate Studies (KIGS) and Laksamana College of Business (LCB) Brunei.
BIBDS Head of Strategy and Business Development Pengiran Ashrin bin Pengiran Mohd Zaidi said that investor education, especially among youths, has been at the forefront of BIBDS activities and is part of efforts to build a culture and awareness towards investing in an informed and Shariah-compliant manner
“This first ever investment challenge is one of our many efforts in supporting the national vision in developing its Islamic capital market industry, as well as part of Bank Islam Brunei Darussalam (BIBD) Group’s commitment to support the United Nations Sustainable Development Goals (UNSDGs) as we engage societies, and for our financial system to grow in a more valuable and sustainable way,” he said.
Simulation capital of BND10,000 will be given to each team to be invested or allocated into a Shariah-compliant investable universe, which includes asset classes such as equity, fixed income, commodity, real estate and cash. Teams will attempt to obtain the best risk-adjusted returns over the investment challenge period.
The challenge is expected to end in December with cash prizes and trophies up for grabs.
Participants were recently briefed on the format of the challenge and introduced to mentors through a briefing session, before the start of the challenge next week.
BIBDS last year launched a new Shariah-compliant ESG-Fund, which is part of BIBD Group’s sustainability Framework. The new fund is suitable for those seeking to invest in products that promote sustainable economic growth, in alignment with the global commitment towards the UNDSDG.
Having been listed as a signatory of the United Nations Principles of Responsible Investing (UN PRI), BIBDS aims to become the domestic champion for ESG and socially responsible investing in Brunei.
A wholly-owned subsidiary of the bank, BIBDS was established in 1993 and is the first securities company in Brunei that offers Shariah-compliant solutions to retail and institutional investors as well as brokerage services for securities listed on Malaysia and Singapore stock markets.