BANDAR SERI BEGAWAN – BIBD Asset Management (BIBD AM), operating under the license of BIBD Securities Sdn Bhd, is bolstering its commitment to practice responsible investing having recently been recognised as a signatory of the United Nations Principles of Responsible Investing (UN PRI), a first for Brunei Darusaalam.

The UN PRI is the world’s leading standard on responsible investments. It is an UN-supported initiative that works to promote the incorporation of environmental, social and corporate governance (ESG) factors into investment decision-making. 

“Signing the Principles for Responsible Investment allows BIBD AM to publicly demonstrate its commitment to socially responsible investing and positions us at the heart of a global community that seeks to build a more sustainable financial system,” BIBD said in a statement.

As of June, the UN PRI has over 4,000 signatories since its launch in 2006, including leading asset managers such as BlackRock, PIMCO and UBS. 

BIBD Securities Managing Director Hj Muhammad Yazid Dato Paduka Hj Mahadi said: “Alhamdulillah, we are pleased to be able to achieve this first step in our ESG journey.

“Becoming a UN PRI signatory was one of our immediate goals set out for 2021 as we aim to become the domestic champion for ESG and socially responsible investing in Brunei, which aligns with the principles of Maqasid Syariah that we have been practicing for a long time now”.

He added, “This initiative is also part of the BIBD Group’s commitment to support the UN Sustainable Development Goals, as we engage societies and the financial system to grow in a more valuable and sustainable way. Such an approach will benefit the society and environment as a whole.

“We are blessed to be guided and to have the support of the whole BIBD Group but at the same time we also want to acknowledge the tireless work put in by our strong team and local talents at BIBD Asset Management.”

Hj Muhammad Yazid said that BIBD AM is one of the few Syariah-compliant investment managers in the region that has signed on to the UN PRI.

“We have plans to introduce more investment solutions that are centred around sustainability, and this milestone would further help us to strengthen our efforts going forward.” 

BIBD AM, Brunei’s first full-fledged Syariah asset manager, provides Islamic global investment solutions through their in-house, local expertise and strategic partnerships with global investment firms.