BANK Islam Brunei Darussalam (BIBD) recently particip-ated in a seminar on China-Asean Financial Cooperation in Beijing, China. The seminar’s theme, ‘The Belt and Road Initiative and Regional Financial Cooperation’, is part of the training and experience sharing scheme under the China-Asean Interbank Association (CAIBA) framework. Representing BIBD was its Deputy Head of Government Relations and Special Projects, Haji Mohd Yusri bin Haji Wahsalfelah and Klaus Tay Chee Wah, Head of BIBD’s Singapore representative office.
The seminar was utilised by BIBD in their efforts to further develop and promote Brunei Darussalam as a regional investment destination to senior officials from CAIBA members as well as financial regulators from Cambodia, Laos, Myanmar and Vietnam.
BIBD also presented ideas of regional finance cooperation showcasing financial cooperation opportunities in Brunei Darussalam which included potential projects relating to infrastructure development.
The seminar also served as a platform for member countries to exchange ideas and share experience on financial issues and development covering international and regional financial cooperation, the relevance of Islamic finance in supporting financial cooperation, transportation and infrastructure construction, SME development and financing, cross-currency trade and financial, and risk management.
BIBD representatives in a group photo with CAIBA members
BIBD is part of the 11-member association consisting of leading financial institutions from all the Asean member countries and China. Previously during BIBD’s Chairmanship, a seminar on China-Asean Capacity Building & Financial Cooperation was also organised among the members.
CAIBA has mobilised the facilitation of business activity between member countries worth over US$1 billion. These have not only enhanced collaboration between the CAIBA members, but have also provided financial support for key projects of the member countries, further supporting social cooperation and development.
In between the board meetings and seminars, BIBD has also made strides to create better understanding of Islamic finance amongst the CAIBA members, recognising its exponential growth and potential.
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