BIBD Securities Adopts Avaloq to Advance Islamic Wealth Management Capabilities

BIBD Securities Sdn Bhd (BIBDS), a fully owned entity under Bank Islam Brunei Darussalam Berhad (BIBD) and a core member of Brunei’s largest financial institution, has transitioned its wealth management services onto the Avaloq platform. This strategic move represents a major step in BIBD’s broader digital transformation efforts, enabling BIBDS to deliver “personalized, Shariah-compliant investment services to its growing base of affluent clients.”

The Avaloq solution now forms the technological backbone of BIBDS’ Islamic investment and brokerage services. With future integration planned with Olive, BIBD Group’s digital finance ecosystem, the platform will “further automate critical functions such as client onboarding, risk profiling, regulatory checks and reporting.” Additionally, the Avaloq system “consolidates the Group’s middle and back office functions onto a single platform – enhancing operational efficiency and supporting scalable, high-quality service delivery across Brunei and the Asia Pacific region.”

With over USD 8.0 billion in assets and more than 345,000 clients, BIBD Group continues to innovate by providing new platforms and solutions to meet growing investor demand for ethical and Shariah-compliant wealth solutions, diversified portfolios and seamless access to a wide range of Islamic banking and investment products.

Having Avaloq on board, BIBDS can benefit from straight-through processing (STP) of trades and their funding, improved services and a unified data model that ensures consistent, high-quality information across all operations. Avaloq’s open architecture and robust integration capabilities also enable smooth connectivity with third-party systems and fintech partners, accelerating innovation and the rollout of new digital services.

Jason Wong, Managing Director at BIBDS, said: “Our partnership with Avaloq supports us in delivering tailored, world-class wealth management services that align with Islamic values. By leveraging on the Avaloq platform, we are able to serve our clients with personalized investment solutions while supporting Brunei’s Vision 2035 to build a dynamic and sustainable digital economy. This transformation also supports the BIBD Group’s aspiration towards a more robust digital services and solutions provider. We look forward to a continuous partnership with Avaloq.”

Vibhooti Chaturvedi, Regional Director for South Asia at Avaloq, said: “We are proud to support BIBDS in its ambition to become a leader in Islamic wealth management. This go-live marks Avaloq’s first client in Brunei and a major expansion of our presence in Southeast Asia. It is an exciting milestone following the signing of our partnership with BIBDS last year. The Avaloq platform enables BIBDS to scale its operations, roll out new products and services more quickly and to deliver an exceptional wealth management experience.”