Brunei Darussalam, September 12, 2024 - 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, Brunei at the prestigious Balai Khazanah Islam Sultan Haji Hassanal Bolkiah. This event marked a significant milestone in fostering economic collaboration and unlocking new Business opportunities between Brunei Darussalam and the 57 member countries of the IsDB Group.

The event started with an opening ceremony, featuring a welcome address by), The Honourable Dato Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister’s Office, Minister of Finance and Economy II, followed by a keynote speech from Mr. Amer Bukvic, Director of the IsDB Group Regional Hub of Indonesia. The event included presentations from key IsDB Group entities, and a workshop on Islamic finance and strategic partnerships, as well as B2B (Business-to-Business) meetings aimed at fostering direct business and investment opportunities.

A key focus of the event is to support Brunei’s private sector through 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 strengthen Business-to-Business interactions, encourage knowledge sharing, and explore new markets for mutual benefit.

In his welcoming address, the Honorable Dato Seri Setia Dr. Haji Mohd Amin Liew bin Abdullah, “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 also emphasizing the strong relationship between Brunei and OIC and the potential for further cooperation”

Mr. Amer Bukvic, Director of the IsDB Group Regional Hub of Indonesia highlighted, " we mark the significant mile stone 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 also 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, which will pave the way for a partnership that focuses on joint financing, treasury activities, trade finance, human capacity development, sustainable development and investment, among many others. The MoU aims to enhance BIBD's support for Brunei's national economic objectives and advance IsDB Group's mission of promoting sustainable development.