BANDAR SERI BEGAWAN, June 8 (Xinhua) -- The Bank Islam Brunei Darussalam (BIBD) Securities Sdn Bhd announced the launch of its first mutual fund managed from Brunei, local media reported on Saturday.
According to local daily Borneo Bulletin, the newly introduced mutual fund, the Lion-BIBDS Islamic Enhanced Liquidity Fund, is designed to preserve capital and enhance income, maintaining high liquidity.
Jason Wong, managing director of BIBD Securities Sdn Bhd, said the fund represents "a culmination of our commitment to developing local talent and expertise in financial management."
BIBD is a state-owned firm and the largest bank in Brunei, which was formed in 2005 through the merger of Islamic Bank of Brunei and Islamic Development Band of Brunei. Its stakeholders include Brunei's Ministry of Finance and Economy, Sultan Haji Hassanal Bolkiah Foundation, Brunei Investment Agency and individual Bruneian investors. ■
