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Notice on Market Conduct


PRESS RELEASE

NOTICE ON MARKET CONDUCT

 

1.         Autoriti Monetari Brunei Darussalam (AMBD) has issued Notice No. FCI/N2/2021/1: Notice on Market Conduct, which will take effect on 1 July 2021. This Notice supersedes Notice No. FCIU/N2/2017/1. 

2.       This Notice enhances the requirements of financial institutions in ensuring disclosure and transparency of information, and fair treatment of financial customers. With this Notice, banks and financial institutions are also required to ensure proper and adequate training for their front-line staff. Further, this Notice encompasses protection for financial customers relating to digital financial products and services, including protection of customer data and information. 

3.       This Notice is part of AMBD's continuous effort to strengthen financial customer protection by promoting better understanding of the products and services offered by banks and financial institutions in the country. This will help customers make informed financial decisions and in turn, increase their trust and confidence in dealing with banks and financial institutions. 

4.       For any inquiries or further information, members of the public may contact AMBD at 2388388, or email info@ambd.gov.bn.

 Autoriti Monetari Brunei Darussalam

Ref:                         AMBD/COMMS/3

Date:                      11 Syaaban 1442H / 25 March 2021M

Download Malay version here

Download English versionhere

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