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Call for Applications to Enter The Fintech Regulatory Sandbox


PRESS RELEASE
CALL FOR APPLICATIONS TO ENTER THE FINTECH REGULATORY SANDBOX


1. Autoriti Monetari Brunei Darussalam (AMBD) continuously encourages the development of the financial sector, in particular, in the area of financial technology, or fintech. In line with this, AMBD calls for applications to enter the AMBD Fintech Regulatory Sandbox.

2. The AMBD Fintech Regulatory Sandbox was established on 27th February 2017 to facilitate the development of fintech in Brunei Darussalam. The Sandbox gives the opportunity for qualified Fintech companies to test and experiment their products and innovation in a flexible regulatory environment, for a limited period of time and within set boundaries.

Since the establishment of the sandbox, AMBD has approved a number of companies to test their fintech products and services in the Sandbox. The type of fintech products and services that are suitable for the Sandbox include those in the areas of banking, capital markets and insurance/takaful, or innovative areas of finance within AMBD’s regulatory scope that has the potential to benefit consumers.

4. Interested companies, businesses and financial institutions are advised to find out more about Fintech Regulatory Sandbox Guidelines, its processes and requirements through our virtual office, The Fintech Office, AMBD, at www.ambd.gov.bn/fintech-office.

5. AMBD remains committed to the country’s financial stability as well as the interests of financial consumers, and is continuously monitoring the risks involved in and development of fintech products and services.

Autoriti Monetari Brunei Darussalam
Date :   25 Jamadilakhir 1441H / 18 February 2020M
Reference :    AMBD/COMMS/3

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