The meeting, which was co-hosted by the Islamic Development Bank (IsDB) Group and Bank Islam Brunei Darussalam (BIBD) at Sultan Palace in Brunei, in cooperation with the Ministry of Finance and Economy of Brunei, marked a significant milestone in strengthening economic cooperation and creating new business opportunities between Brunei Darussalam and the IsDB Group’s 57 member countries.
The event included presentations from key entities within the IsDB Group, a workshop on Islamic finance and strategic partnerships, and business-to-business (B2B) meetings to enhance business and direct investment opportunities.
A significant focus of the event was to support the private sector in Brunei through IsDB Group entities such as the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), the Islamic Development Bank Group Business Forum (THIQAH), and the International Islamic Trade Finance Corporation (ITFC). Such engagements aimed to boost interactions among businesses, encourage knowledge sharing, and explore new markets for mutual benefit.
The event also saw the signing of a memorandum of understanding (MoU) between BIBD and IsDB Group that will pave the way for a partnership focused on co-financing, treasury activities, trade finance, human capital development, sustainable development, and investment. The MoU aims to enhance BIBD’s support for Brunei’s national economic objectives and reinforce the IsDB Group’s mission of promoting sustainable development.
Source: spa.gov.sa