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.
Javed Ahmad, managing director at BIBD, said the investment makes Fajr Capital the third-largest investor in the bank.
Brunei's government has a 45 percent stake in the bank, while the Sultan of Brunei's charitable foundation owns a 25 percent stake.
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