SME Financing explained to UBD undergrads

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Are you an undergraduate or postgraduate student in UK? If so, have you registered for the Bruneian Postgraduate Symposium yet?

The Bruneian Postgraduate Society is holding its second Bruneian Postgraduate Symposium on March 20 with the theme: ‘Sustainability and Growth: Securing our Nation’s future’. The main panels for this year’s symposium are National Identity and Education and Environment, Health and Law.

The one-day symposium will be held at the Brunei Gallery Lecture Theatre at the School of Oriental and African Studies in London, UK and registration to attend the symposium is now open.

The Bruneian Postgraduate Society has organised three exciting and intellectually-stimulating keynote speakers for the symposium, the first being Awang Hj Md Rozan bin Dato Paduka Hj Md Yunos, the Permanent Secretary at the Ministry of Development (Administration and Finance) who is a key figure within the Governmental administration and serves as a driving force in the development of the country.

The second keynote speaker is Dr Hj Omar bin Hj Khalid, Vice-Chancellor of the Institute Technology of Brunei (ITB). He leads an increasingly important institution, especially with its recent establishment as a fully-fledged university. ITB is a key factor in ensuring the development of a technically-focussed work force.

The final keynote speaker is Professor Tong Chee Kiong, Special Academic Advisor to Universiti Brunei Darussalam (UBD) who hails from the National University of Singapore and whose research interests include The Chinese in Southeast Asia, Comparative Religious Systems, Civil Religion and Commercial Development and Institutional Foundations of Chinese Business Firms.

They join the ranks of previous, similarly distinguished keynote speakers of the Symposium such as Dr Hj Zulkarnain bin Hj Hanafi, the Vice-Chancellor of Universiti Brunei Darussalam (UBD); Dr Hj Mohd Yusop bin Hj Awang Damit, the former Rector of Universiti Islam Sultan Sharif Ali (UNISSA) and Dr Hj Supry bin Hj Awg Ladi, the Director of International and Public Relations Office at Institut Teknologi Brunei (ITB).

The 2010 Bruneian Postgraduate Symposium will see Bruneian postgraduate researchers from Brunei, the UK and Australia presenting papers based upon their research.

It is hoped that this symposium will be the first of many opportunities for policy-makers, working academics and researchers, as well as postgraduate students to discuss the research that has been done and currently being undertaken, with the view to achieving Brunei’s Vision 2035.

For more information, potential attendees can visit the Bruneian Postgraduate Society website at http://bruneianpostgrads.org where up-to-date information about the Bruneian Postgraduate Symposium can be obtained.

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Undergraduates from Academy of Brunei Studies (APB), Universiti Brunei Darussalam today made an educational visit to Bank Islam Brunei Darussalam Berhad (BIBD) at its Kiulap Branch.

The educational visit began with a welcoming note and a presentation on SME financing facilities by Pg Sanusi Iskandar Pg Hj Ismail, Manager for SME Service Centre.

The students are in their third year at the Academy of Brunei Studies doing a programme on “Industri Tradisi Brunei”.

The aims of the educational visit were to expose the students to Islamic Banking, the structure of the bank as well as the products and services offered by BIBD to the public, specifically to SME’s.

The students were briefed on the role of the Small Medium Enterprise Service Centre and the types of schemes offered to the public – Enterprise Facilitation Scheme and the Microcredit Financing Scheme. These schemes according to Pg Sanusi Iskandar are offered in collaboration with His Majesty’s Government through the Ministry of Industry and Primary Resources (MIPR).

He continued to present to the students on the criteria an applicant will need to meet in order to be eligible for the financing schemes offered by BIBD’s SME Service Centre. He later then continued to touch on the various financing facilities offered to SMEs.

The students during the presentation also learnt about the process flow of SME financing from its application stage all the way to its approval together with the drawdown of financing.

According to Pg Sanusi Iskandar, the ingredients needed for a good business are cash, commitment, collaboration, integrity, honesty and to be an opportunist.

He told the students that if they wanted to start a business, they will have to consider some points such as raising sufficient working capital to run operations for at least six months without revenue, being open to opportunities, having confidence in new ideas and not afraid to accept failure but learn from them, as well as create strong channel partners and distribution points to get closer to their potential customers.

After the presentation, the students got a chance to mingle with BIBD staff members, where they had the opportunity to receive more in depth information about the bank.

Bank Islam Brunei Darussalam Berhad as the leading Islamic Banking institution in this country pursues itself in providing innovative Islamic Banking products and services for the benefit of Brunei Darussalam as a whole.

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