Management challenges faced by Bank Islam Brunei Darussalam (BIBD)

Abstract

Bank Islam Brunei Darussalam (BIBD) is currently functioning as the biggest bank in Brunei Darussalam and adding to that it is an Islamic bank competing with other conventional banks in the country. It has been operating since 1993 and within that period of time; BIBD has faced different challenges in order to make it stand at where it is now. The purpose of this research is to investigate the challenges faced by BIBD within its establishment period until now, focusing on the management challenges. This study is based on an interview with one of the top management officers in BIBD and the findings were also supported by various resources such as academic journal and theses. The overall findings of the study indicated that, like most of the other Islamic banks, lack of expertise is the major challenge faced by BIBD and in addition to other challenges such as government regulations and policies, product development and innovation, competition and public awareness.