Bank Islam Brunei Darussalam
This organisation is included as an 2-Star Lister under The ESG Select List, with initiatives spanning two areas of the framework. Their efforts reflect a broad scope of sustainability actions across environmental, social, and governance dimensions.
Below are the initiatives they have chosen to feature, along with supporting materials that offer further insight into their sustainability approach.
Initiatives Section
ESG Breakthrough Innovation
BIBD achieved a definitive market-first in 2024 with its Olive mobile ecosystem, which secured the "Best Verification Tech ID Award" for deploying Brunei’s first eKYC (electronic Know Your Customer) technology. This innovation broke the industry's long-standing barrier of requiring physical presence for Islamic financing, thereby significantly reducing Scope 3 emissions by digitizing the entire onboarding process and integrating blockchain-based digital contracts for a fully paperless experience.
ESG Trailblazer​
The first financial institution in Brunei Darussalam to be accepted as a member of the United Nations Global Compact (UNGC). This move is industry-breaking as it shattered the local market's historical reliance on voluntary reporting, forcing a shift toward radical transparency where the bank now voluntarily subjects itself to rigorous international scrutiny on human rights, labor, and environmental standards—effectively setting a new compliance baseline for the entire Sultanate.
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