Bank Islam Brunei sells stake to Fajr Capital
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,
Syndicate
