Dubai's Fajr Capital sells stake in Brunei's largest bank

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Dubai-based Fajr Capital has announced the sale of its significant minority stake in Bank Islam Brunei Darussalam (BIBD), Brunei’s largest bank, to Brunei Investment Agency. Fajr Capital invested in BIBD in September 2010 with a commitment to transform the bank into a world-class financial services institution. Fajr Capital said it has worked alongside BIBD’s shareholders to devise and begin implementation of a new strategy which resulted in enhanced customer experience, introduction of internet banking and new digital platforms, international expansion in South East Asia and the Middle East, and improved financial performance.


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