Fajr Capital has successfully sold its minority stake in Bank Islam Brunei Darussalam to Brunei Investment Agency, following a decade of successful transformation aimed at elevating the bank's performance and market position.

Target Information

Fajr Capital has successfully completed the divestment of its substantial minority stake in Bank Islam Brunei Darussalam (BIBD), the largest bank in Brunei and a prestigious institution in the financial services sector. Fajr Capital initially invested in BIBD in September 2010 with the goal of elevating the already stable and financially sound institution into a globally recognized financial services leader.

During its investment period, Fajr Capital collaborated closely with BIBD’s leadership to reinforce corporate governance and management practices. Efforts included the development and initial execution of a comprehensive growth strategy, resulting in a revamped customer experience, a new brand identity, and the modernization of the bank's branch network. BIBD also expanded its offerings to include internet banking and new digital platforms, leading to significant geographical expansion throughout Southeast Asia and the Middle East, while more than doubling its net income.

Industry Overview in Brunei

Brunei’s banking sector is pivotal to its economic landscape, characterized by strong regulatory oversight and a focus on Islamic finance. As the largest bank, BIBD plays an essential role in providing comprehensive banking services and