BIBD Promotes New Investment Product
By Lyna Mohamad

Bandar Seri Begawan - Bank Islam Brunei Darussalam Berhad (BIBD), with the current global economic volatility and the increasing awareness to have a more systematic financial planning, is opening an excellent opportunity for the public/investors to diversify their investment and get the best possible returns.

This was highlighted as the bank conducted a public presentation for the launching of its latest product, BIBD investment Certificate, at the Mutiara Ballroom of the Sheraton Utama Hotel in the capital yesterday afternoon.

Managing Director of BIBD, Awg Hj Muhd Syaippudin Hj Abdullah in his welcoming remarks underlined the initiative by the Finance Ministry to inculcate a savings and investment culture in the subjects of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam through a systematic financial planning.

He noted the features of the new product that provides an alternative investment means for the customers that is Syariah compliant and based on the Al Wadiah Yad Dhamanah (Safe Keeping and Guarantee) concept, whereby funds placed will be capital-protected.

With the dividend yield indicated at a rate of 3.875% per annum, it will be paid semi-annually and will be sourced from the underlying BLNG Sukuk Al-Ijarah programme which is the first corporate Sukuk issuance of the Sultanate signed early last month whereby BIBD acts as the lead arranger and underwriter for the overall business transaction.

A representative from the Asset & Fund Management Division of BIBD who conducted yesterday's briefing said that the investment product will be offered on a 'first-come-first-serve' basis, with the offer period for subscription open from September I1-13, 2006.

Allocation of the certificates will be limited and once fully subscribed the application period will be closed prior to September 13, and the minimum unit value for each subscription is BND5000 and there will be separate tiers of maximum subscription for customers as well as for members of the Perdana World Banking.

Interested individuals are advised to visit BIBD branches or if they are a member of the Perdana World Banking, they can call 2235745 for further details.

BIBD as the leading Islamic banking institution in the Sultanate prides itself in providing innovative Islamic banking products and services to the citizens and residents of Brunei Darussalam.

Amongst those present at the presentation yesterday was the Acting Chairman of BIBD, Pehin Orang Kaya Seri Dewa Major General (Rtd) Awg Hj Mohammad Hj Daud. -- Courtesy of Borneo Bulletin

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