ASEAN KEY DESTINATIONS
BIBD execs promote investment opportunities in Brunei
BANK Islam Brunei Darussalam (BIBD), the sultanate’s flagship financial institution, has promoted investment opportunities in the recent seminar on China-ASEAN Financial Cooperation held in Beijing.
In a statement issued yesterday, BIBD said bank officials promoted Brunei as a regional investment destination to senior officials from the China-ASEAN Interbank Association (CAIBA), as well as financial regulators from CLMV (Cambodia-Laos-Myanmar-Vietnam) countries.
BIBD also presented ideas on regional finance cooperation and cited financial cooperation opportunities in Brunei which include infrastructure development.
“In between the board meetings and seminars, BIBD has also made strides to create better understanding of Islamic finance amongst the CAIBA members, recognising its exponential growth and potential,” BIBD said.
The seminar, which carried the theme “The Belt and Road Initiative and Regional Financial Cooperation”, is part of CAIBA’s training and experience sharing programme.
Hj Mohd Yusri bin Hj Wahsalfelah, BIBD’s Deputy Head of Government Relations and Special Projects and Klaus Tay Chee Wah, Head of BIBD’s Singapore representative office, represented BIBD in the CAIBA seminar. BIBD is part of CAIBA, the eleven-member association consisting of leading financial institutions from all ASEAN countries and China.
The seminar served as a venue for CAIBA members to discuss ideas and share experiences on financial cooperation, Islamic finance, transportation and infrastructure construction, SME development and financing, cross-currency trade and risk management.
CAIBA has facilitated a business activity worth over US$1 billion. This enhanced collaboration among CAIBA members and supported key projects in member countries.
CAIBA aims to promote mutual trade and investment and provide the relevant financial services for infrastructure projects supported by the governments of China and ASEAN.
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Indonesia to launch 13th economic package this month
Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.
Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.
"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.
The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.