Establishing and Managing a Small and Medium Enterprise Bank in Brunei Darussalam

2017-04-30 - 2020-07-31
Brunei

The Government of Brunei Darussalam has contracted LFS Financial Systems GmbH to set up and manage an MSME Bank in Brunei Darussalam. The Bank provides Micro, Small and Medium Enterprises access to affordable financial services following Islamic Finance principles. By offering relevant products and services to MSMEs that are not offered by conventional banks, the Bank’s shareholders will foster the growth of the entire MSME sector and support the development of a diversified economy in the country. Unlike ordinary banks, the MSME Bank is more flexible in tailor suiting its products to the specific needs and capacities of MSMEs. The MSME Bank “speaks the language” of its customers and attempts to provide holistic support to its customers that is not limited to providing financing only.
Establishment and organisation of the FI, branch network, and Head Office functions; Setting up all Departments of the Bank (including operations, credit, back office, risk, finance internal audit, HR, Administration, IT, Legal) from inception and training its staff; Operational and strategic management of the FI; Selection and parametrization of the Core Banking System/MIS; Selection, training and development of bank staff and management; Development of loan products (incl. MSME and agricultural consumer and mortgage loans, supply chain financing); Building up and developing the lending business; Implementation, maintenance and further development the IT infrastructure; In the initial period LFS provides the CEO and the Operations Manager as long-term staff. These are supported by the Project Manager and a team of technical short-term consultants in the various fields of Bank Management.