IslamicFinance.de

Dubai-based Fajr Capital has completed its divestment from Bank Islam Brunei Darussalam (BIBD) to Brunei Investment Agency. Fajr Capital stated that this transaction marks another successful exit for the firm, following several recent high-profile divestments. The bank’s transformation journey resulted in enhanced customer experience through the introduction of internet banking and new digital platforms, international expansion and improved financial performance with the bank’s net income more than doubling.

Bank Islam Brunei Darussalam (BIBD) has sold an undisclosed minority stake to Dubai-based Islamic investment firm Fajr Capital as the Asian bank bids to extend its international reach.
Brunei's government has a 45 percent stake in the bank, while the Sultan of Brunei's charitable foundation owns a 25 percent stake.
Javed Ahmad, managing director at BIBD, declined to comment on the exact size of the deal or its value, but when talk surfaced last June that a stake sale might be in the offing,