BIBD Investment Certificate Over-Subscribed In Less Than A Day
By Kartika Rahman

Bandar Seri Begawan - Due to an overwhelming response on the first offer day of BIRD Investment Certificate by Bank Islam Brunei Darussalam Berhad (BIBD), BIBD yesterday at 3.30pm had to cut short its offer period for any new investment applications.

Initially BIBD set an offer period from September 11-13, but extremely high demand has led to an over-subscription of the first investment product by BIBD, which was first introduced on September 8, 2006.

It has a minimum subscription of BND5000, and a dividend yield indicated at a rate of 3.875 per cent per annum, which will be paid semi-annually and sourced from the underlying BLNG Sukuk Al-Ijarah programme that 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.

BIBD thanked all its customers and the public for their interest and support in the investment product.

BIBD will be looking into developing new investment instruments, which it intends to launch next year in response to this successful subscription. -- Courtesy of Borneo Bulletin

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