The Islamic Development Bank (IsDB) Group co-hosted its inaugural IsDB Group Day with Bank Islam Brunei Darussalam (BIBD) in collaboration with the Ministry of Finance and Economy in Brunei at the Balai Khazanah Islam Sultan Haji Hassanal Bolkiah, a press release from IsDB stated.
This event marked a significant milestone in enhancing economic collaboration and creating new business opportunities between Brunei Darussalam and the 57 member countries of the IsDB Group.
The event kicked off with an opening ceremony featuring the Bruneian Minister at the Prime Minister’s Office, Minister of Finance and Economy II, Dr. Awang Haji Mohd Amin Liew bin Abdullah and a keynote speech by the Director of the IsDB Group Regional Hub of Indonesia Amer Bukvic.
The event included presentations from key IsDB Group entities, a workshop on Islamic finance and strategic partnerships, and B2B (Business-to-Business) meetings to foster direct business and investment prospects.
According to the release, the event’s significa
nt focus was to bolster support for Brunei’s private sector through various IsDB Group entities such as the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Islamic Corporation for the Development of the Private Sector (ICD), including the Islamic Development Bank Group Business Forum (THIQAH), and International Islamic Trade Finance Corporation (ITFC). These engagements aim to enhance B2B interactions, facilitate knowledge exchange, and explore new markets for mutual benefit.
In his address,Dato Dr. Amin highlighted Brunei’s significant growth in Islamic finance, with assets reaching B$13.3 billion, positioning the country as a key player globally. He discussed opportunities for deeper collaboration between Brunei and the Islamic Development Bank in infrastructure, agriculture, MSMEs, and sustainable projects while emphasizing the strong relationship between Brunei and The Organisation of Islamic Cooperation (OIC) and the potential for further cooperation.
Bukvic commented,
“We mark the significant milestone in our partnership as we gather to celebrate IsDB Group Day-a Day that symbolizes the strength of our shared commitment to fostering sustainable development and inclusive growth.” He added that “the Country Engagement Framework (CEF) signals a new chapter in our cooperation, setting the stage for deeper engagement in areas that align with Brunei’s strategic vision.”
The event also saw the signing of a Memorandum of Understanding (MoU) between BIBD and IsDB Group, focusing on joint financing, treasury activities, trade finance, human capacity development, sustainable development, and investment. The MoU aims to enhance BIBD’s support for Brunei’s economic goals and advance IsDB Group’s mission of promoting sustainable development
Source: Saudi Press Agency
