LONDON, July 11, 2018 (GLOBE NEWSWIRE) — The finance industry in Brunei has often played second fiddle to the country’s oil and gas sector, but one organisation is attempting to change that. Since being established in 1994, Baiduri Bank has rapidly become one of the biggest providers of financial services in the Southeast Asian nation.
In honour of the high-quality work administered by the bank over the past year, World Finance recently named Baiduri the Best Banking Group for Brunei, 2018. The award recognises the efforts made by the bank to introduce new digital technologies into the market while retaining a personalised banking service. It represents just the latest accolade for an organisation that has embraced innovation over a number of years.
“This is a remarkable milestone for the Baiduri Bank Group,” explained Baiduri CEO Pierre Imhof. “We are honoured and proud to be recognised by World Finance as the Best Banking Group in Brunei for the tenth consecutive year.”
In particular, the award underscores the fantastic work that Baiduri has done to improve economic diversification in Brunei. For too long, the country’s dependency on hydrocarbons has left it at the mercy of commodity price volatility, but the development of a more robust financial services sector is helping to rectify this.
Baiduri Bank is working alongside government initiatives to ensure that private sector businesses have access to the capital they need to flourish. MerchantSuite, for example, is a mobile application that allows smaller companies to receive online payments from their clients. It is just one of many new proposals launched by the bank to ensure those opportunities in Brunei are accessible to everyone.
For more about Baiduri Bank and its efforts to modernise the Bruneian financial sector, check out the latest edition of World Finance, available in print, on tablet and online now:
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