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Last modified: 12/10/2015 02:03 PM |

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by: i:0#.w|bnmof\mohayazeed_jasni

  

PRESS RELEASE

SIGNING CEREMONY FOR THE PARTICIPANT SERVICE AGREEMENT

BETWEEN AUTORITI MONETARI BRUNEI DARUSSALAM AND

THE HOUSING DEVELOPMENT DEPARTMENT, MINISTRY OF DEVELOPMENT

BANDAR SERI BEGAWAN, BRUNEI DARUSSALAM

 

1.       Autoriti Monetari Brunei Darussalam (AMBD) recently signed a Participant Service Agreement on the collaboration of credit information exchange with the Housing Development Department (HDD) of Ministry of Development.  HDD is a department under the Ministry of Development, which is responsible to provide, assess and assign homes for eligible applicants of the National Housing Scheme (NHS) of Negara Brunei Darussalam.  The signing ceremony was held at the headquarters of Ministry of Development in Berakas, Brunei Darussalam. 

2.       On behalf of the HDD, the agreement was signed by Yang Mulia Awang Haji Muhammad Lutfi bin Abdullah, Permanent Secretary (Administration & Finance) at the Ministry of Development and witnessed by Yang Mulia Awang Haji Mohd Zakaria bin Haji Sarudin, Senior Special Duties Officer, Ministry of Development.  Signing on behalf of AMBD was Yang Mulia Awang Yusof bin Haji Abd Rahman, Managing Director of AMBD, and witnessed by Yang Mulia Awang Mohammed Roaizan bin Haji Johari, Assistant Executive Director (Credit Bureau).

3.       The Participant Service Agreement provides the provision for the HDD to submit credit information of the recipients of the NHS under the purview of HDD to the Credit Bureau of AMBD.  In turn, the Agreement also enables the HDD to obtain credit reports provided by the Credit Bureau, which will be used specifically to assist the HDD in assessing the creditworthiness of the NHS applicants.  The underlying objective of this collaboration is to provide the HDD with a better assessment tool in determining the suitability or appropriateness of the type of housing scheme that will be extended to the applicants in consideration of their capability and capacity to service the commitment.  This is to ensure the recipients would not unnecessarily overburden themselves financially in the long run. 

4.       This collaboration initiative is consistent with the Credit Bureau's strategic development plan in expanding its data coverage beyond the traditional credit information obtained from the financial institutions. The objective of collecting value-added data such as those obtained from the HDD is to augment the existing banking information as it provides a more holistic view of the individual's credit standing; further enhancing the credit risk management of the financial institutions.

5.       The Credit Bureau of AMBD collects and collates all factual credit information from various data providers, and to compile them into a credit report.  To date, the data providers of the Credit Bureau consist of all the licensed banks, finance companies and the Islamic Trust Fund as well as telecom and utility service providers in Brunei Darussalam, namely DST Communication Sendirian Berhad, Telekom Brunei Berhad (TelBru), Progresif Cellular Sendirian Berhad, and the Department of Electrical Services.

6.       For further information on the Credit Bureau of AMBD, please visit http://www.ambd.gov.bn/birokredit or email birokredit@ambd.gov.bn.


Autoriti Monetari Brunei Darussalam

Date: 17 Zulhijjah 1438 / 8 September 2017

Reference: AMBD/COMMS/3

Download Malay version here 

Download English version here

  

AUTORITI MONETARI BRUNEI DARUSSALAM OPERATIONS

ON FRIDAY, 1 SEPTEMBER 2017

 

1.            Autoriti Monetari Brunei Darussalam (AMBD) would like to inform the public that AMBD's office will not be in operation on Friday, 9 Zulhijjah 1438H corresponding  to 1 September 2017M to replace the Hari Raya Aidiladha public holiday on Saturday, 10 Zulhijjah 1438H corresponding to 2 September 2017M .

2.            This includes all AMBD services, such as the AMBD Currency Gallery, Credit Bureau Customer Service Counter, the Financial Consumer Issues Services Desk, Payment Counters and all other AMBD Counter Services.

3.            However, to ensure smooth operation of the Brunei Dollar Interbank Transfers, AMBD is pleased to inform that the AMBD Real-Time Gross Settlement (RTGS) System, Automated Cheque Clearing House (ACH) and Central Securities Depository (CSD) will be in operation on Friday, 1 September 2017M under normal operating hours.

4.            AMBD's office will reopen on Monday, 12 Zulhijjah 1438H corresponding to 4 September 2017M.

5.            AMBD would like to apologize for any inconvenience caused and would like to take this opportunity to wish all Muslims Selamat Hari Raya Aidiladha.

 

Autoriti Monetari Brunei Darussalam

Date:     8 Zulhijjah 1438H / 31 August 2017M 
Reference: AMBD/COMMS/3

  

 
​ 

SUCCESSFUL ISSUANCES OF BRUNEI DARUSSALAM GOVERNMENT SHORT-TERM

SUKUK AL-IJARAH SECURITIES

 

Bandar Seri Begawan, Brunei Darussalam (August 2017) - The Autoriti Monetari Brunei Darussalam (AMBD), agent to the Government of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam in managing and administering Sukuk Al-Ijarah issuances, is pleased to​​​ announce the successful pricing of its 148th issuance of short-term Sukuk Al-Ijarah securities.

The total of the sukuk issuance was B$ 50 million with following details:

SeriesIssuance DateMaturity DateTenorRental Rate
14817 August 201717 May 2018273days0.8125%


 With this issuance, the Brunei Government has thus issued over B$11.1282 billion worth of short-term Sukuk Al-Ijarah securities since the maiden offering on 6th April 2006 and the total holdings of the Brunei Government Sukuk outstanding until 17th August 2017 stood at BND 438.2 million.​​​

Download PDF here

  


PRESS RELEASE

PHOTOS REGARDING ALLEGED MISPRINTED

BND20 DENOMINATED POLYMER CURRENCY

 

1.       Autoriti Monetari Brunei Darussalam (AMBD) found that there have been photos purporting a misprinted BND20 polymer currency in circulation.

2.       AMBD would like to inform that AMBD has not received any formal complaints regarding the said currency.

3.       AMBD would like to advise the public to avoid disseminating unverified information that will confuse members of the public.

4.       For any information with regards to Brunei Darussalam's currency, please contact AMBD at 2382186 or email cmu@ambd.gov.bn

 

Date                     :               28 Jamadilakhir 1437H / 6 April 2016M

Reference           :               AMBD/COMMS/3


Download Malay version here

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NOTICE ON EQUITY BASED CROWDFUNDING PLATFORM OPERATORS

 

1.              Autoriti Monetari Brunei Darussalam (AMBD) has recently issued a Notice on Equity Based Crowdfunding (ECF) Platform Operators under section 239(1) of the Securities Markets Order, 2013. The Notice introduces new additional requirements for any applicants intending to operate an ECF Platform in Brunei Darussalam. The Notice took effect on Friday, 18th Zulkaedah 1438 corresponding to 11th August 2017.

2.              Under this framework, an applicant must apply for a Capital Market Services Licence, allowing it to carry out the regulated activities of dealing and arranging deals in investments and investment advice. The Notice also sets outs continuous obligations on the board of directors, chief executive or any person who is primarily responsible for the operations of the ECF Platform.

3.              In addition, an eligible issuer can raise up to BND 500,000 within a 12-month period. An eligible issuer will be subject to several disclosure requirements imposed by the ECF Platform Operator. Such issuer will be able to tap on investments from both sophisticated and retail investors, subject to the investment limits as specified in the Notice.

4.              The issuance of this Notice is expected to facilitate the growth and development of capital market sector, particularly in the ECF industry in Brunei Darussalam, and provide the start-ups and small businesses an alternative source of financing to raise capital. This is in line with Brunei Darussalam Financial Sector Blueprint (2016-2025), and can contribute to the economic growth, towards realizing Wawasan 2035.

 

Autoriti Monetari Brunei Darussalam

Date:     30 Zulkaedah 1438H/      22 August 2017M

Ref:        AMBD/COMMS/3


Download Malay version here

Download English version  here

  

 

PRESS RELEASE

AUTORITI MONETARI BRUNEI DARUSSALAM (AMBD) POLICY STATEMENT 1/2017

 

1.            Autoriti Monetari Brunei Darussalam (AMBD) today published its bi-annual policy statement for the first half (ending in June) of 2017. 

2.            In the Policy Statement 1/2017, AMBD remarked that the global economy continued to expand, though at relatively moderate rate. The domestic economy showed improvement in recent export data contributed by higher crude prices. Domestic inflation in 2017 is expected to be in the range of -1.1% to -0.1%.

3.            AMBD also highlighted that the key financial soundness indicators in the banking sector remained at healthy levels amid challenging global environment. AMBD continues to review the regulatory environment to provide conducive financial sector landscape. AMBD is developing and upgrading the legislative and regulatory framework in alignment with international standards and best practices.

4.            Brunei Darussalam remains committed to the Currency Board Arrangement, and the Currency Interchangeability Agreement with The Republic of Singapore. This provides Brunei Darussalam a credible and well-understood monetary policy arrangement. Brunei Darussalam continues to benefit from low domestic inflation and high confidence in the durability of the country's macroeconomic stability.

5.            AMBD will continue to enhance its policymaking and regulatory capacity to fully undertake the responsibilities placed upon it.

6.            Finally, AMBD will also contribute towards achieving the aspirations of the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam to develop Brunei Darussalam as a reputable Islamic financial centre.

7.            The full version of AMBD Policy Statement 1/2017 can be found on Policy Statement 1/2017 .

 

Autoriti Monetari Brunei Darussalam

Date: 17 Zulkaedah 1438/10 August 2017

Ref No: AMBD/COMMS/3

Download Malay version here

Download English version here

Link to Policy Statement 1/2017 
  

 

PRESS RELEASE

AMENDMENTS TO NOTICE ON TOTAL DEBT SERVICE RATIO

 

1.         Autoriti Monetari Brunei Darussalam (AMBD), on Thursday, 10 August 2017 corresponding to 17 Zulkaedah 1438 has issued amendments to the Notice on Total Debt Service Ratio (TDSR) to all banks and Perbadanan Tabung Amanah Islam Brunei (TAIB).

 2.         The TDSR measures your total monthly debt obligations as a proportion of your net monthly income.  Effective 8 June 2015, the maximum TDSR set by AMBD is at 60% for borrowers with a minimum net monthly income of BND1,750. Meanwhile, borrowers with net monthly income below BND1,750 are subjected to the respective financial institution's internal policy on TDSR or minimum take home pay requirement.


 3.         The implementation of the TDSR aims to protect individuals from falling into a debt trap. The TDSR limits how much individuals can borrow relative to their income to ensure their monthly loan repayments are at a manageable level, and consequently have sufficient remaining income to cover for their daily living expenses. 


4.         From June 2015 until June 2017, a total of 119,467 retail loans/financing applications have been received by banks and finance companies.  Out of this total, only 2.7% of these applications were declined due to borrowers' exceeding their TDSR, highlighting the low rejection rate.  Indeed, more than half of borrowers (75%) were reported to have TDSR of less than 60%.  On a country wide level, AMBD has observed several positive outcomes from the implementation of the TDSR policy in 2015 as follows:

    1. Household indebtedness, as measured by personal loans (including credit cards), has declined by 30.4% from BND2.3 billion in 2010 to BND1.6 billion in June 2017.  This shows the steady and controlled growth of personal loans amongst households in the country;
    1. The ratio of "bad loans" to total loans in the household sector, as indicated by the Non-Performing Loan Ratio (NPL) has also declined from 2.3% in December 2014 to 1.9% in June 2017, suggesting better and more disciplined debt management by households as well as prudent granting of loans by banks and finance companies.

5.         AMBD, as the regulator and supervisor of the financial sector, continues to monitor the effectiveness of its regulations to ensure that they are in line with the current economic and market environment.  In October 2015, AMBD increased the flexibility of the TDSR policy, particularly for business owners, to include variable income such as rental and other business income as part of their Gross Monthly Income subject to certain conditions.  Apart from that, credit cards secured by fixed deposits were also excluded from the TDSR computation.  

6.       More recently, AMBD has received feedback that the TDSR framework has limited some customers' capabilities to get property financing.  In this regard, AMBD has reviewed the policy further and subsequently, has taken the initiative to fine-tune the TDSR to provide more flexibility to these borrowers.  Effective from 10 August 2017, the new TDSR amendment will allow banks and Perbadanan TAIB to increase the TDSR limit from 60% to a maximum of 70% for credit facilities to finance the purchase or construction of properties only such as houses.

7.         This amendment is intended to encourage home ownership particularly for borrowers with net monthly income of BND1,750.00 and above, and to have wider options in making home purchases. Additionally, this amendment also aims to stimulate the domestic property market through increased bank lending which can contribute to economic growth, in line towards realizing Wawasan 2035.

8.         For more information or enquiries, members of the public can visit AMBD's website at www.ambd.gov.bn; or download AMBD App from the App Store or Google Playstore.

 

Autoriti Monetari Brunei Darussalam

Date :    18 Zulkaedah 1438/ 11 August 2017

Ref :      AMBD/COMMS/3

Download Malay version here

Download English version here

Link to Notice TDSR (Banks) 

Link to Notice TDSR (Islamic Banks)

Link to Notice (Finance Companies)

  

 

PRESS RELEASE

BRUNEI DARUSSALAM ISLAMIC INVESTMENT SUMMIT 2017 (BIIS 2017)

The Empire Hotel & Country Club, Jerudong, Brunei Darussalam

9 Zulkaedah 1438 Corresponding To 2 August 2017

 

1.             Duli Yang Teramat Mulia Paduka Seri Pengiran Muda Mahkota Pengiran Muda Haji Al-Muhtadee Billah lbni Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, Senior Minister at the Prime Minister's Office has consented to attend and officiate the Brunei Darussalam Islamic Investment Summit 2017 (BIIS 2017), on Tuesday, 9 Zulkaedah 1438H corresponding to 2 August 2017M, at The Empire Hotel & Country Club, Jerudong, Brunei Darussalam.

2.             His Royal Highness was greeted upon arrival to the Opening Ceremony by Yang Berhormat Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr.) Haji Awang Abu Bakar bin Haji Apong, Minister of Home Affairs, in his capacity as the Deputy Chairman of the Board of Directors of AMBD; Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abd Rahman bin Haji Ibrahim, Minister at the Prime Minister's Office and Minister of Finance II; and other Board Members of AMBD, as well as members of BIIS 2017 Organising Committee.

3.             The two-day Summit is hosted by CIBFM with the support of AMBD. Themed "Globalisation of Islamic Finance: The Road Ahead", the objective of the summit is to provide a useful platform for leaders, scholars, and experts to share their knowledge and experience as well as to exchange views on current issues in Islamic finance with special focus on globalisation of Islamic Finance.

4.             The ceremony began with the National Anthem. Following that, the recitation of the Al-Quran was read by Yang Mulia Ak Muhd Adibul Amin bin Pengiran Haji Marjuki.

5.             At the ceremony, His Royal Highness also consented to deliver an opening sabda, following which, His Royal Highness consented to receive a 'pesambah' from Yang Berhormat Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr.) Haji Awang Abu Bakar bin Haji Apong.

6.             Prior to His Royal Highness's sabda, the welcoming remarks were delivered by Yang Berhormat Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr.) Haji Awang Abu Bakar bin Haji Apong.  

7.             A keynote presentation entitled "Sukuk-Traditional and Innovative Strategies" was delivered by Sheikh Esam M Ishaq, Member of The High Council of Islamic Affairs, Government of Bahrain .

8.             A number of other local and international speakers at the conference were invited to speak at the event, including  Yang Mulia Dato Seri Setia Awang Haji Metussin bin Haji Baki; Datuk Dr. Mohd Daud bin Bakar, Founder and Group Chairman, Amanie Advisors; Professor Dr. Obiyathulla Ismath Bacha, Professor of Finance and the Head of the Graduate Studies Department, International Centre for Education in Islamic Finance (INCEIF); and Dr. Mohd Hairul Azrin bin Haji Besar, Member of the National Shariah Financial Supervisory Board.

9.            To bless the ceremony, a Doa Selamat was read by Yang Berhormat Pehin Datu Imam Dato Paduka Seri Setia Ustaz Haji Awang Abdul Hamid bin Bakal.

10.         His Royal Highness then consented to visit exhibition booth of a number of financial institutions and programme partners showcasing, among other things, Islamic financial products and services.

11.         His Royal Highness also consented to a group photo with the Board of Directors of AMBD and members of BIIS 2017. Before leaving the ceremony, His Royal Highness consented to the 'junjung ziarah' by the Board of Directors of AMBD and members of BIIS 2017.

12.         The Opening Ceremony was also attended by Cabinet Ministers, Council's Members, High Commissioners, Ambassadors and Permanent Secretaries.

13.         The two-day summit will be attended by about 200 participants from government ministries and agencies, the financial industry as well as the private sector.

 

Autoriti Monetari Brunei Darussalam

Date :   9 Zulkaedah 1438H/ 2 August 2017M

Ref :  AMBD/COMMS/3         


Download Malay version here

Download English version here

  

PRESS RELEASE

LAUNCHING OF FINANCIAL INTELLIGENCE UNIT ANNUAL REPORT 2016

Indera Samudra Grand Hall, The Empire Hotel And Country Club

9 Zulkaedah 1438 corresponding to 2 August 2017

 

1.            His Royal Highness Prince Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, The Crown Prince and Senior Minister at the Prime Minister's Office, as Chairman of Autoriti Monetari Brunei Darussalam's (AMBD) Board of Directors, launched the Financial Intelligence Unit's (FIU) Annual Report 2016 today , 9 Zulkaedah 1438 corresponding to 2 August 2017, at the Indera Samudra Grand Hall, Empire Hotel and Country Club.

2.            The inaugural report serves to promote awareness and understanding of the FIU's functions and obligations within Brunei Darussalam's anti-money laundering and combating the financing of terrorism (AML/CFT) regime.

3.            To commemorate the FIU's 10th anniversary, the report also includes highlights of the FIU's progress and achievements since its establishment in 2007.

4.            The report is available to members of the public through the AMBD website or the AMBD App, which can be downloaded free of charge on both 'App Store' for iPhone users and 'Google Playstore' for Android users.

 

Autoriti Monetari Brunei Darussalam

Date: 9 Zulkaedah 1438/2 August 2017

Ref No: AMBD/COMMS/3


Download Malay version here

Download English version here

  

 

PRESS RELEASE

LAUNCHING CEREMONY OF AUTORITI MONETARI BRUNEI DARUSSALAM (AMBD)

ISLAMIC FINANCE SHOWCASE

Indera Samudra Grand Hall, The Empire Hotel & Country Club

Wednesday, 8 Zulkaedah 1438 corresponding to 2 August 2017

 

  1. His Royal Highness Prince Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu'izaddin Waddaulah, the Crown Prince and Senior Minister at the Prime Minister's Office in his capacity as the Chairman of AMBD Board of Directors consented to launch the Autoriti Monetari Brunei Darussalam (AMBD) Islamic Finance Showcase at, Indera Samudra Grand Hall, The Empire Hotel & Country Club today, 8 Zulkaedah 1438 corresponding to 2 August 2017.
     
  2. His Royal Highness then consented to officiate the Brunei Darussalam Islamic Finance website and smartphone application, which serves as a one-stop center for the latest Islamic finance news and information in Brunei Darussalam, including events, courses, regulations, research papers and market data.
     
  3. The AMBD Islamic Finance Showcase aims to showcase the country's milestones in Islamic finance and to create an awareness of Islamic finance activities in Brunei Darussalam. The showcase also highlights Brunei Darussalam's aspiration to become an international hub for Islamic finance, which is underscored in the Brunei Darussalam Financial Sector Blueprint (2016-2025) – a document that sets out strategies that will elevate the reputation and quality of the Financial Sector in Brunei Darussalam.

  4. Participating in the showcase are local Islamic financial institutions including Perbadanan Tabung Amanah Islam Brunei (TAIB) and Takaful Brunei Keluarga (TBK), as well as higher learning institutions and non-profit organisations including Universiti Brunei Darussalam (UBD), Universiti Islam Sultan Sharif Ali (UNISSA), Universiti Teknologi Brunei and Majlis Ugama Islam Brunei (MUIB). Ghanim International Corporation is also participating in the showcase.
     
  5. The event is held alongside the Brunei Darussalam Islamic Investment Summit (BIIS) 2017 organised by the Centre For Islamic Banking, Finance and Management and runs for two days on the 2nd and 3rd of August 2017, from 9am to 5pm. Members of the public are welcome to view the AMBD Islamic Finance Showcase.
     
  6. For more information on the Brunei Darussalam Islamic Finance, members of the public can visit the website at www.bdif.com.bn or download the App from the App Store or Google Playstore,

 

Autoriti Monetari Brunei Darussalam

Date: 8 Zulkaedah 1438H/ 2 August 2017M

Reference: AMBD/COMMS/3


Download Malay version here

Download English version here

  

PRESS RELEASE

INVESTMENT CHALLENGE 2017

23 SYAWAL 1438 CORRESPONDING TO 18 JULY 2017

 

1.       Autoriti Monetari Brunei Darussalam (AMBD) hosted a prize-giving ceremony for the winners of the Investment Challenge 2017 on Thursday, 13 July 2017. The competition, co-organised by AMBD and Brunei Darussalam Capital Market Association (BCMA), started on 25 May 2017, and was opened to undergraduates of local higher learning institutions in Brunei Darussalam. The objectives of this competition are to cultivate awareness on financial investment, introduce asset allocation concepts, and to generate interest in financial investment and capital markets.

2.       Seven teams, each comprising of four members participated in the competition. The four participating higher learning institutions were Universiti Teknologi Brunei (UTB), Sultan Sharif Ali Islamic University (UNISSA), Kolej International Graduate Studies (IGS), and Politeknik Brunei.

3.       The competition, which ran for four weeks from 26 May 2017 to 23 June 2017, kicked off with  a training session for all participating teams, conducted by members of BCMA. During the competition, four panel judges were appointed to evaluate the performances of the teams based on several criteria including quantitative returns on investment, qualitative aspect such as portfolio diversification, and analysis of their investment strategy.

4.       The prizes were presented to the winners by YM Awang Yusof bin Haji Abd Rahman, Managing Director of AMBD. The first-place winner of the competition was UNISSA LANS, winning the top prize of a 5-day fully sponsored attachment program with Lion Global Investors Limited in Singapore, trophies and accompanying prizes. Second-place was from UTB, with prizes including a 3-month attachment program at Baiduri Capital and BIBD Securities, trophies and accompanying prizes. The third place team was UNISSA Year 3. The prizes were sponsored by AMBD, Lion Global Investors Limited, UOB Asset Management, Baiduri Capital, and BIBD Securities.


Autoriti Monetari Brunei Darussalam

Date:             23 Syawal 1438 / 18 July 2017

Ref:                AMBD/COMMS/3

Download Malay version here

Download English version here

  

 

PRESS RELEASE


MAJLIS RAMAH MESRA

BERSAMA DULI YANG TERAMAT MULIA

PADUKA SERI PENGIRAN MUDA MAHKOTA

SEMPENA HARI RAYA AIDILFITRI 1438H/2017M

 

 

BANQUET HALL

PRIME MINISTER'S OFFICE (PMO)

BANDAR SERI BEGAWAN, NEGARA BRUNEI DARUSSALAM

THURSDAY, 18 SYAWAL 1438 CORRESPONDING TO 13 JULY 2017

 

1.       His Royal Highness Prince Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, The Crown Prince and Senior Minister at the Prime Minister's Office, as Chairman of Autoriti Monetari Brunei Darussalam's (AMBD) Board of Directors, consented to attend Majlis Ramah Mesra Aidilfitri AMBD on Thursday 18 Syawal 1438 corresponding to 13 July 2017, which took place at the Banquet Hall, Prime Minister's Office.

2.       His Royal Highness, upon arrival, was greeted by Yang Berhormat Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr.) Haji Awang Abu Bakar bin Haji Apong, Minister of Home Affairs as Deputy Chairman of AMBD's Board of Directors, Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Hj Ibrahim, Minister at the Prime Minister's Office & Minister of Finance II, Yang Berhormat Pehin Datu Singamanteri Colonel (Rtd.) Dato Seri Setia (Dr.) Awang Haji Mohammad Yasmin bin Haji Umar, Minister of Energy and Industry at The Prime Minister's Office, other members of AMBD's Board of Directors, Senior Management of AMBD as well as its officers and staff.

3.       The event was held in conjunction with the ongoing Hari Raya festivities and aimed at strengthening the bond amongst AMBD personnel and to foster a harmonious work culture and environment as well as to build comradeship.

4.       His Royal Highness also consented to present tokens and certificates of appreciation to AMBD officers and staff who had retired between 2011 and 2017.

5.       Before leaving the event, His Royal Highness consented to junjung ziarah by the Board of Directors of AMBD, Senior Management of AMBD and its employees.

 

Autoriti Monetari Brunei Darussalam

Date:                     18 Syawal 1438 / 13 July 2017

Ref No:                 AMBD/COMMS/3/2017

Download Malay version here

Download English version here

  

 
​ 

SUCCESSFUL ISSUANCES OF BRUNEI DARUSSALAM GOVERNMENT SHORT-TERM

SUKUK AL-IJARAH SECURITIES

 

Bandar Seri Begawan, Brunei Darussalam (July 2017) - The Autoriti Monetari Brunei Darussalam (AMBD), agent to the Government of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam in managing and administering Sukuk Al-Ijarah issuances, is pleased to​​​ announce the successful pricing of its 147th issuance of short-term Sukuk Al-Ijarah securities.

The total of the sukuk issuance was B$ 100 million with following details:

SeriesIssuance DateMaturity DateTenorRental Rate
14706 July 201705 October 201791 days0.5625%


 With this issuance, the Brunei Government has thus issued over B$11.0782 billion worth of short-term Sukuk Al-Ijarah securities since the maiden offering on 6th April 2006 and the total holdings of the Brunei Government Sukuk outstanding until 6th July 2017 stood at BND 493.2 million.​​​

  

Press Release

COMMEMORATIVE NOTES IN CONJUNCTION WITH

50TH ANNIVERSARY OF THE CURRENCY INTERCHANGEABILITY AGREEMENT

BETWEEN BRUNEI DARUSSALAM AND SINGAPORE

Wednesday, 12 Syawal 1438 corresponding to 5 July 2017

  

1.         His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien, The Sultan and Yang Di-Pertuan of Brunei Darussalam, and His Excellency Mr. Lee Hsien Loong, Prime Minister of Singapore jointly launched new $50 notes in conjunction with the 50th Anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and Singapore today, 12 Syawal 1438 corresponding to 5 July 2017, in a ceremony held at the Istana, Singapore.

2.         The limited edition $50 polymer notes with the theme "Flourishing Growth" are issued by both Autoriti Monetari Brunei Darussalam (AMBD) and Monetary Authority of Singapore (MAS).

3.         The Brunei Darussalam and Singapore $50 commemorative notes feature the same design elements and layout and is predominantly gold in colour to signify the golden jubilee. The 50th Anniversary logo of the Currency Interchangeability Agreement is a key feature on the front of the note. It shows a unifying flower motif comprising of a prominent flower found in Brunei Darussalam and Singapore's national flower, the Simpur and the Vanda Miss Joaquim respectively, in full bloom. This and the radiating flower petals symbolises the flourishing growth friendship between the two nations.

4.         A unique element in the note is the see-through, colour-shifting window security feature that depicts Brunei Darussalam's Istana Nurul Iman and Singapore's Istana. A portrait of His Majesty Sultan and Yang Di-Pertuan of Brunei Darussalam is shown on the Brunei Darussalam note, while the Singapore note features a portrait of Singapore's first President, Mr Yusof bin Ishak.

5.         The back design of the note portrays the close collaboration between Brunei Darussalam and Singapore in the areas of defence, education and tourism. The bilateral defence cooperation is depicted by military personnel from the Royal Brunei Armed Forces and the Singapore Armed Forces in their ceremonial uniforms. Collaboration in education is represented by students from both countries engaging in cross-cultural learning and exchange of ideas. Brunei Darussalam's Ulu Temburong National Park, the "Green Jewel of Brunei" and the Singapore Botanic Gardens, a UNESCO World Heritage site, are also featured, signifying the importance of the Agreement in facilitating tourism between the two countries.

6.         There will be five types of limited edition numismatic sets sold by AMBD in conjunction with the celebration:

(i)         Identical Numbered Notes Set

This set contains one $50 Brunei and one $50 Singapore commemorative notes, sharing the same serial number with the CIA prefix. This set will be sold at B$300 each.


(ii)         3-in-1 Uncut Sheet

This set contains one uncut sheet of three $50 Brunei commemorative notes. This set will be sold at B$400 each.


(iii)       8-in-1 Uncut Sheet

This set contains one uncut sheet of eight $50 Brunei commemorative notes. This set will be sold at B$1,000 each.


(iv)       40-in-1 Uncut Sheet

This set contains one uncut sheet of forty $50 Brunei commemorative notes. This set will be sold at B$4,500 each.


(v)        Coffee Table Book with a set of B$50 and S$50 commemorative notes

This limited edition coffee table book highlights elaborate descriptions of the commemorative notes' designs elements and contains a set of B$50 and S$50 commemorative notes. The coffee table book will be sold at B$138 each.

7.         The general public can start purchasing these sets from 2pm on Wednesday, 5 July 2017, while the coffee table book will be available on Friday, 7th July 2017, on a "first-come-first served" basis for as long as stock lasts at AMBD Currency Gallery Gift Shop, BCMB Building, MOF Complex, Commonwealth Drive, Jalan Kebangsaan.

8.         AMBD and MAS will also be issuing commemorative notes, in which the general public can exchange for both the Brunei $50 and Singapore $50 notes. Each set will be accompanied by a complimentary folder to commemorate the occasion, and is available from branches of Baiduri Bank, Bank of China, Hong Kong (BOCHK), BIBD, Maybank, RHB Bank, Standard Chartered Bank, UOB, and Perbadanan TAIB from Friday, 7 July 2017 onwards.

 

Autoriti Monetari Brunei Darussalam

Date :   12 Syawal 1438 / 5 July 2017

Ref :     AMBD/COMMS/1

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MAS 01.png

Joint Press Release by

Autoriti Monetari Brunei Darussalam and Monetary Authority of Singapore

50TH ANNIVERSARY OF THE CURRENCY INTERCHANGEABILITY AGREEMENT

BETWEEN BRUNEI DARUSSALAM AND SINGAPORE

12 Syawal 1438H corresponding to 5 July 2017M


1.       His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar'Ali Saifuddien Sa'adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam and His Excellency Mr. Lee Hsien Loong, Prime Minister of Singapore jointly launched the new $50 commemorative notes issued by the two countries in a ceremony held today at the Istana, Singapore, to mark the 50th Anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and Singapore.

2.       The Currency Interchangeability Agreement  took effect on 12 June 1967 between Brunei Darussalam and Singapore to facilitate improved economic and trade relations between the parties, and is a key economic cooperation between Brunei Darussalam and Singapore. It was signed by the then Chairman of the Brunei Currency Board (now known as Autoriti Monetari Brunei Darussalam) and the Chairman of the Board of Commissioners Currency, Singapore (which merged with the Monetary Authority of Singapore in 2002).

3.       Under the Agreement, AMBD and MAS will accept the currency issued by the other, and to exchange it at par and without charge, into their own currency. Banks in both countries will accept for deposit from the general public and businesses, currency issued by the other country at par.

4.       Through the years, the Agreement has brought about economic benefits and strengthened the financial links between Brunei Darussalam and Singapore. Today's joint launch of the new $50 commemorative notes reaffirms to the public, retailers and financial institutions in both countries that Brunei Darussalam and Singapore currency notes are still interchangeable at par.

5.       The commemorative notes will be made available to the general public both in Brunei Darussalam and Singapore from 2pm today, 5th July 2017, while the circulation notes will be available from 2pm Friday, 7th July 2017 across all banks and their branches in both countries.   

6.       For more information on the 50th Anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and Singapore, please visit AMBD's website at www.ambd.gov.bn or download the AMBD App through the Appstore or Google Playstore.

 

Autoriti Monetari Brunei Darussalam

Date :   12 Syawal 1438 / 5 July 2017

Ref :     AMBD/COMMS/1


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PRESS RELEASE

SIGNING CEREMONY FOR THE MEMORANDUM OF UNDERSTANDING BETWEEN AUTORITI MONETARI BRUNEI DARUSSALAM (AMBD) AND PROGRESIF CELLULAR SENDIRIAN BERHAD (PCSB)

BANDAR SERI BEGAWAN, BRUNEI DARUSSALAM

10 Ramadhan 1438 corresponding to 5 June 2017

 

1.       The signing ceremony for the Memorandum of Understanding (MoU) between Autoriti Monetari Brunei Darussalam (AMBD) and Progresif Cellular Sendirian Berhad (PCSB) was held on Monday, 5th June 2017 at PCSB Headquarters, Unit 1-5, Block A & B, Simpang 137-65 Kampong Kiarong, Jalan Pasar Baharu, Gadong, Bandar Seri Begawan BE1318, Brunei Darussalam.

2.       Signing on behalf of AMBD was Awang Haji Adi Marhain bin Haji Leman, Acting Deputy Managing Director, while PCSB was represented by Mr. Paul Taylor, Chief Executive Officer. Witnessing the signing ceremony was Awang Mohammed Roaizan bin Haji Johari, Acting Assistant Executive Director (Credit Bureau) of AMBD, and Mr. Roger Plahay, Chief Financial Officer of PCSB. The signing ceremony was attended by senior officials from both AMBD and PCSB. 

3.       The objective of the MoU is to set a foundation of cooperation and collaboration for both signatories in relation to the submission of customers' credit information to the Credit Bureau of AMBD. The initiative of this information sharing is aimed to further enhance the lender's credit risk management by equipping them with utility data as an alternative form of credit information sourced from the providers of "credit-like" services, such as telecom.  The onboarding of PCSB, as an additional data provider of the Credit Bureau, symbolizes another milestone for the Credit Bureau as it will now have a full coverage of all telecommunication companies in Brunei Darussalam.

4.       The inclusion of utility data in the credit report will further enable customers to establish their "reputational collateral" by demonstrating their willingness and ability to repay multiple and regular interval payments, particularly as utility customers are typically billed monthly, resembling the typical loan repayment cycles. The reporting of both positive (such as timely payment) and negative (such as missed payment) information would encourage customers to establish and maintain good credit or payment history that will ultimately enable them to gain greater access to credit.

5.       In a separate statement made by Roger Plahay, Chief Finance Officer of PSCB, "We are pleased to partner with AMBD where this will enable us to provide full customer payment data, much broader than that are gathered by the Credit Bureau to date. This will help establish a more reliable formal source for customer credit information in Brunei. This agreement offers the opportunity to enhance credit risk management and help the development of a more sophisticated financial sector for the nation.  In the future, businesses may potentially benefit from using the information gathered by the Credit Bureau to assess a customer's ability-to-pay, that not only helps protect businesses from the risk of payment default, but also allows responsible businesses to protect their customers from over-committing themselves and falling into unnecessary financial hardship.  This is a great initiative that has the potential to provide Bruneian consumers with faster and easier (low-risk) access to finance, yet at the same time reduce the risk of default - it benefits both businesses and the people of Brunei."

6.       In conjunction with the signing ceremony, officers and staff of PCSB also listened to a briefing on the function and role of the Credit Bureau, which was delivered by an officer of AMBD.  On the same occasion, the Credit Bureau set up a temporary Self-Inquiry service counter to give opportunities to any officers or staff of PCSB to obtain their own individual credit report.  The credit report or also known as the Self-Inquiry Report (SIR) contains detailed information of the individual's credits that he/she has taken up, such as a credit card, personal financing or motor vehicle financing.  The information contained in the credit report is as what has been reported to the Credit Bureau by various lending institutions.  Any individuals or companies can obtain their own credit report from the Credit Bureau for the purpose of self-checking to ensure the information reported in their credit report is accurate and updated.

7.       The Credit Bureau is a unit under the Regulatory and Supervision Department of AMBD, and has been operational since 10th September 2012. The main function of the Credit Bureau is to collect, compile, consolidate and disseminate factual information in relation to the creditworthiness, or the ability to meet debt obligations of individuals or commercial entities.

8.       For further information on the Credit Bureau of AMBD, please visit http://www.ambd.gov.bn/birokredit or follow the Instagram account @birokredit.


Autoriti Monetari Brunei Darussalam

Date: 10 Ramadhan 1438 / 5 June 2017

Reference:

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​ 

SUCCESSFUL ISSUANCES OF BRUNEI DARUSSALAM GOVERNMENT SHORT-TERM

SUKUK AL-IJARAH SECURITIES

 

Bandar Seri Begawan, Brunei Darussalam (June 2017) - The Autoriti Monetari Brunei Darussalam (AMBD), agent to the Government of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam in managing and administering Sukuk Al-Ijarah issuances, is pleased to​​​ announce the successful pricing of its 146th issuance of short-term Sukuk Al-Ijarah securities.

The total of the sukuk issuance was B$ 100 million with following details:

SeriesIssuance DateMaturity DateTenorRental Rate
14615 June 201714 September 201791 days0.6250%


 With this issuance, the Brunei Government has thus issued over B$10.9782 billion worth of short-term Sukuk Al-Ijarah securities since the maiden offering on 6th April 2006 and the total holdings of the Brunei Government Sukuk outstanding until 14th September 2017 stood at BND 393.2 million.​​​

  

TAHLIL CEREMONY

FOR AL-MARHUM SULTAN HAJI OMAR 'ALI SAIFUDDIEN SA'ADUL KHAIRI WADDIEN IBNI

AL-MARHUM SULTAN MUHAMMAD JAMALUL ALAM

AND AL-MARHUMAH DULI RAJA ISTERI PENGIRAN ANAK DAMIT BINTI

AL-MARHUM PENGIRAN BENDAHARA PENGIRAN ANAK ABDUL RAHMAN.

ROYAL MAUSOLEUM, JALAN TUTONG

BANDAR SERI BEGAWAN, BRUNEI DARUSSALAM

TUESDAY, 10 RAMADHAN 1438 CORRESPONDING TO 5 JUNE 2017

 

1.       Autoriti Monetari Brunei Darussalam (AMBD), today, held a Tahlil Ceremony for Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien ibni Al-Marhum Sultan Muhammad Jamalul Alam and Al-Marhumah Duli Raja Isteri Pengiran Anak Damit binti Al-Marhum Pengiran Bendahara Pengiran Anak Abdul Rahman in conjunction with the month of Ramadhan 1438H/2017M at the Royal Mausoleum, Jalan Tutong.

2.       Present at this ceremony were Yang Berhormat Yang Berhormat Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr.) Haji Awang Abu Bakar bin Haji Apong, Minister of Home Affairs in his capacity as Deputy Chairman of AMBD; Yang Mulia Dato Paduka Awang Haji Mohd Roselan bin Haji Mohd Daud, Acting Minister at the Prime Minister's Office; Yang Mulia Dato Paduka Awang Haji Hisham bin Haji Mohd Hanifah, Acting Minister of Finance II; other members of AMBD's Board of Directors; Managing Director of AMBD as well as male officers and staff of AMBD.

3.       The ceremony began with the recital of Surah Yassin followed by mass Tahlil, led by Yang Yang Mulia Hj Azrol Alim Hj Zaini, Mosque Affairs Officer, Ministry of Religious Affairs.
 

Autoriti Monetari Brunei Darussalam

Date:                     10 Ramadhan 1438 / 5 Jun 2016

Reference:          AMBD/COMMS/3

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PRESS RELEASE

AMBD LAUNCHES CENTRALISED STATISTICAL SYSTEM

 

1.       Autoriti Monetari Brunei Darussalam (AMBD) launched the Centralised Statistical System on Friday, 15 Syaaban 1438 corresponding to 12 May 2017. The system provides a single online portal to collect data from all relevant stakeholders, including financial institutions regulated by AMBD, such as banks, finance companies, insurance and takaful companies, Capital Markets Services Licence (CMSL) holders, money changers, money remittances, and pawn brokers.

2.       The collected data stored in Centralised Statistical System can be analysed and then used to produce insightful and detailed reports within AMBD. The data quality and collection lifecycle can be significantly improved through automatic validation checks by the system. The system will streamline AMBD's internal and external data collection processes as well as safeguarding the quality, consistency and integrity of the data. The automation of these processes will also help in reducing the turnaround time for data retrieval, collation, analysis and dissemination.

3.       In line with the goals of AMBD's Financial Sector Blueprint 2016-2025 (FSBP) which among others are to sustain monetary and financial stability; and to develop robust and modern infrastructure, the CSS will enhance the monitoring and supervision function through effectively identifying inherent risks as a next-generation platform. By utilising this technology, all stakeholders will be able to carry out their duties more efficiently and spend their time in analysing data more productively.

4.       AMBD has chosen Vizor Limited, a well-recognised company that has vast experience as a solution provider for financial data collection and regulation technology, to develop this system. The company has provided solutions to the central banks and financial regulators in more than 30 countries. Their list of clientele includes the Bank of England, Bank of Canada, and Saudi Arabian Monetary Authority. For Vizor Limited, working with AMBD marked as their first presence in the South-East Asian region since their establishment in 2000.

 

Autoriti Monetari Brunei Darussalam

Date :     15 Syaaban 1438 /12 May 2017

Ref :       AMBD/COMMS/3

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PRESS RELEASE

AMBD LAUNCHES THE CENTRAL SECURITIES DEPOSITORY

 

1.       Autoriti Monetari Brunei Darussalam (AMBD) has implemented the Central Securities Depository (CSD) on Friday, 15th Sya'ban 1438 corresponding to 12th May 2017. This is the next phase of the National Payment and Settlement Systems Project, following the implementation of the Real Time Gross Settlement (RTGS) system for high-valued electronic transfers between banks in November 2014, Automated Clearing House (ACH) system for automated cheque processing in May 2016 and the introduction of the Direct Credit in the ACH system which allows electronic transfer of multiple low value payments.

2.       The CSD system is an electronic platform used to register and maintain records of debt securities holdings for the participating banks replacing the manual book entry processes. Currently, the CSD participants consists of only the banks in the country. CSD participants can now view their accounts online and are able to transfer securities through the CSD system rather than manual transfer of physical instructions. At a later stage, the CSD system will be expanded to enable auction of new securities and provide a trading platform to facilitate a secondary market among the CSD participants.

3.       Currently, the CSD system provides depository services for the Sukuk Al-Ijarah programme. AMBD, as an agent for the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam pertaining to the issuance and the administration of sukuk, will introduce other suitable forms of sukuk including longer term sukuk for the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam.

4.       The CSD system is a vital component of the payment and settlement system and will become a cornerstone for the development of the capital market in Brunei Darussalam, including the establishment of the Brunei Stock Exchange. In-line with the objectives set in AMBD's Financial Sector Blueprint, the CSD system will help the country by supporting the expansion of the domestic sukuk programme and providing an electronic platform to channel sukuk into the local market. With the CSD system, AMBD will bring the management of local sukuk issuances under domestic control and will ease sukuk secondary market trading in Brunei Darussalam.

 

Autoriti Monetari Brunei Darussalam

Date :     14 Syaaban 1438 / 12 May 2017

Ref :       AMBD/COMMS/3

Download Malay version here

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