Business the right way with BIBD MSME
Source : Borneo Bulletin
31 May, 2018
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Bank Islam Brunei Darussalam (BIBD) recently launched its BIBD MSME Account, specifically designed to accommodate the needs of micro, small and medium enterprises (MSMEs) in Brunei Darussalam.
The account requires a minimum average balance of only BND50, much lower than the usual requirement of a minimum of BND1,000 imposed by most banks for corporate accounts.
Minister of Finance II and BIBD Chairman Dato Seri Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah, saw this as a positive step in the development of the economy. He said, “Alhamdulillah, BIBD’s dedication to ensure the continued invigoration of the Brunei economy – especially the growth of local MSMEs – is part of our contribution to support the realisation of Brunei Vision 2035 goals. Insya Allah, the concerted efforts of everyone including regulators and industry enablers will lead to the growth and development of MSMEs thereby creating increased employment and expanding their business opportunities.”
BIBD Managing Director Mubashar Khokhar commented, “The BIBD MSME account supports entrepreneurs through better financial management of their businesses while providing flexibility to their business operations.”
BIBD MSME account holders will have access to a range of facilities and corporate banking services that include financing, digital banking, and being automatically listed in BIBD’s list of payees on BIBD’s digital banking application for ease of transactions between customers and the MSMEs. The BIBD MSME Account will also allow for MSMEs to have access, through BIBD initiatives such as BIBD SME 360, to knowledge in sound financial discipline in business management and personal financial management.
