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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

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (February 2021) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 17th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND15 million with the following details:

SeriesIssuance DateMaturity DateTenorRate
017
25 February 202111 March 202114 Days0.1000%


With this issuance, AMBD thus far issued BND470 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 25th February 2021 stood at BND45 million.

Download Successful Issuance of AMBD Islamic Bills 17th Series

  


Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (February 2021) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 16th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND30 million with the following details:

SeriesIssuance DateMaturity DateTenorRate
016
18 February 202104 March 202114 Days0.0700%


With this issuance, AMBD thus far issued BND455 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 18th February 2021 stood at BND50 million.

Download Successful Issuance of AMBD Islamic Bills 16th Series

  


Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (February 2021) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 15th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND20 million with the following details:

SeriesIssuance DateMaturity DateTenorRate
015
11 February 202125 February 202114 Days0.0700%


With this issuance, AMBD thus far issued BND425 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 11th February 2021 stood at BND32 million.

Download Successful Issuance of AMBD Islamic Bills 15th Series

  


PRESS RELEASE

SUCCESSFUL ISSUANCES OF BRUNEI DARUSSALAM GOVERNMENT SHORT-TERM SUKUK AL-IJARAH SECURITIES


Bandar Seri Begawan, Brunei Darussalam (February 2021) - 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 191st issuance of Sukuk Al-Ijarah securities.

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

SeriesIssuance DateMaturity DateTenorRental Rate
191
4 February 2021
6 May 2021
91 Days0.2500%

 

With this issuance, the Brunei Government has thus far issued over BND14.33 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 as at 4th February 2021 stood at BND 257.5 million.

Download PDF here Successful Issuances of Brunei Darussalam Government Short-Term Sukuk Al-Ijarah Securities 191st Series

  


Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (February 2021) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 14th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND12 million with the following details:

SeriesIssuance DateMaturity DateTenorRate
014
4 February 202118 February 202114 Days0.1000%


With this issuance, AMBD thus far issued BND405 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 4th February 2021 stood at BND32 million.

Download Successful Issuance of AMBD Islamic Bills 14th Series

  


Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (January 2021) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 13th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND20 million with the following details:

SeriesIssuance DateMaturity DateTenorRate
013
28 January 202111 February 202114 Days0.0800%


With this issuance, AMBD thus far issued BND393 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 28th January 2021 stood at BND50 million.

Download Successful Issuance of AMBD Islamic Bills 13th Series

  


AMBD ARTICLE

THE ROLES AND RESPONSIBILITIES OF AUTORITI MONETARI BRUNEI DARUSSALAM:

Supervision of Banks and Financial Institutions

 

Autoriti Monetari Brunei Darussalam (AMBD) was established on 1 January 2011 as a statutory body as stipulated in the AMBD Order, 2010.

AMBD acts as a central bank of Brunei Darussalam with responsibilities including the conduct of monetary policy, the issuance of the Brunei currency, as well as regulating and supervising banks and other financial institutions.

In this article, we will be sharing about how AMBD supervises financial institutions.

What are financial institutions?

The financial institutions supervised and regulated by AMBD include:

  • Banks;
  • Finance companies;
  • Takaful operators and insurance companies;
  • Capital market intermediaries;
  • Money changing businesses;
  • Money lending;
  • Remittance businesses;
  • Pawnbrokers;
  • Financial technology companies; and any other institutions offering financial products and services.

The Brunei Darussalam financial sector is a dual system consisting of both the conventional financial institutions and Islamic financial institutions.

 

Why do financial institutions need to be supervised?

Financial institutions provide services for your money. This includes keeping your money safe in the bank, providing loans to customers and businesses, sending your money to your relatives abroad, collecting premiums for insurance policies and Takaful contracts, or investing your money. If financial institutions are not licensed or well-supervised, they could carry out irresponsible practices which could lead to you losing your money or your rights would not be protected. So in short, AMBD puts in place requirements and supervises financial institutions to protect you and your money.

There have been examples of past financial crises where mishandling of financial services led to households and businesses suffering from losing their monies or financial protection and required government intervention (and more money) to resolve the matter. Therefore, AMBD aims to make sure that financial services are well-functioning so financial services can be provided during good times and bad times in an economy.

As financial institutions deal with the public's money, it is important for a country to make sure that financial institutions are operating in a fair manner with good governance as set by international standard-setting bodies. Financial services connect people and businesses globally and countries are recommended to introduce requirements that are internationally accepted. In this way, AMBD in consultation with the financial institutions, introduces requirements as recommended by the Islamic Financial Services Board, Basel Committee on Banking Supervision (BCBC), Insurance Association of Insurance Supervisors (IAIS), International Organisation of Securities Commission (IOSCO), International Accounting Standards Boards (IASB), and Financial Action Task Force (FATF) amongst others that are appropriate for Brunei Darussalam's market. A well-supervised and well-functioning financial sector increases the public's confidence towards financial institutions and can attract more investors to the country.

 

How does AMBD supervise financial institutions?

There are many types of financial institutions in Brunei Darussalam which AMBD licenses and supervises. AMBD makes sure that the requirements put in place are followed by financial institutions. These requirements include how the financial institutions are operating, how much capital and funds to maintain, how they sell and market their product and services and so on. AMBD assesses the performance of financial institutions and their compliance to AMBD laws and requirements by reviewing documents and reports from financial institutions and carrying out regular on-site and off-site inspections. AMBD aims to intervene on a timely basis and provide financial institutions recommendations to address any problems that may affect their ability to service their customers.

AMBD is also the secretariat to the Syariah Finance Supervisory Board. This Board assesses the practices in Islamic financial products and services offered in the industry to ensure they are in accordance to Syariah principles.

 

How do I know which financial institutions are licensed by AMBD?

The list of all AMBD licensees can be found on the website, along with their contact details! You can visit our website for more information.

Alternatively, we also have the AMBD Alert List to warn the public about entities, offering financial products and services, which are which are neither authorised nor approved under the relevant laws and regulations administered by AMBD, or whose activities raise suspicions of illegal activities.


Download PDF Version Article 3 - Roles and Responsibilities of AMBD - Supervision of Banks and Financial Institutions

  


Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (January 2021) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 12th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND30 million with the following details:

SeriesIssuance DateMaturity DateTenorRate
012
21 January 202104 February 202114 Days0.0800%


With this issuance, AMBD thus far issued BND373 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 21st January 2021 stood at BND73 million.

Download Successful Issuance of AMBD Islamic Bills 12th Series

  


AMBD Article

THE ROLES AND RESPONSIBILITIES OF AUTORITI MONETARI BRUNEI DARUSSALAM:

Conduct of Monetary Policy 

 

Autoriti Monetari Brunei Darussalam (AMBD) was established on 1 January 2011 as a statutory body as stipulated in the AMBD Order, 2010.

AMBD acts as a central bank of Brunei Darussalam with responsibilities including the conduct of monetary policy, the issuance of the Brunei currency, as well as regulating and supervising banks and other financial institutions.

In this article, we will be sharing about how AMBD conducts Brunei Darussalam's monetary policy.

 

What is Monetary Policy?

Monetary policy is a macroeconomic policy enacted by a country's central bank to affect the money supply or/and interest rates in the country. The goals or objectives of monetary policy varies across countries. Some examples include – to attain full employment; high economic growth; stable price level; or stable exchange rates. Monetary policy instruments may be adjusted from time to time, depending on the performance of the economy and what the central bank wishes to achieve.

 

What is Brunei Darussalam's Monetary Policy?

Brunei Darussalam's monetary policy regime is based on the Currency Board Arrangement, which is underpinned by the Currency Interchangeability Agreement (CIA) between Brunei Darussalam and Singapore.

  • The Currency Board Arrangement

A monetary authority pegs its currency to another currency, or the reserve currency, and issues domestic money only in exchange for foreign reserve currency. The local currency is fully convertible into the reserve currency at a fixed rate, and on demand.  In Brunei Darussalam, the Brunei dollar is pegged to the Singapore dollar as the reserve currency, at par under the CIA.

A currency board must fully back up the total amount of currency issued in the economy with an equivalent amount held in foreign reserves. This is also stated in the Currency Order, 2004, which requires AMBD to back up every note and coin issued with foreign exchange reserves. This is to ensure confidence and stability in the Brunei dollar, and hence, eases trade and investment. 

 Article-2-Roles-and-Responsibilities-of-AMBD-Conduct-of-Monetary-Policy Img 01.PNG

As the Singapore dollar anchors the Brunei dollar, Singapore's monetary policy has a direct influence on monetary conditions in Brunei Darussalam. Singapore uses the exchange rate as its monetary policy tool. The longstanding monetary policy framework based on the CIA has been beneficial for macroeconomic stability. Indeed, inflation in Brunei Darussalam has also been low and stable, averaging 1.1% over 1981–2019 (Department of Economic, Planning and Statistics, Ministry of Finance and Economy, 2019).

  • The Currency Interchangeability Agreement

The CIA makes Brunei Darussalam and Singapore a unique case of a currency board.

Under the CIA, the monetary authorities and licensed banks in both countries are obliged to accept and exchange each other's currencies at par and without charge, into their own currency. 

 Article-2-Roles-and-Responsibilities-of-AMBD-Conduct-of-Monetary-Policy Img 02.PNG

As a result, the Brunei dollar is customary tender in Singapore and the Singapore dollar is customary tender in Brunei Darussalam. Customary tender is different from legal tender. Legal tender is any official medium of payment recognised by law that can be used for payments (and other financial obligations) in that country. Typically, the legal tender is the national currency issued by the country. Meanwhile, it is customary to accept Brunei dollars in Singapore and Singapore dollars in Brunei Darussalam.

 Article-2-Roles-and-Responsibilities-of-AMBD-Conduct-of-Monetary-Policy Img 03.PNG

This unique arrangement has been mutually beneficial for both Brunei Darussalam and Singapore.

The arrangement removes exchange rate risks between the two countries, which would typically cause uncertainty and become a risk to business operations and investments. It also reduces the cost of doing business between Brunei Darussalam and Singapore, and in turn eases tourism, trade and investments.

Under the CIA, the authorities agreed to return the customary tender collected through currency repatriation. What currency repatriation means is that AMBD returns the Singapore currency to the Monetary Authority of Singapore (MAS) and likewise, MAS returns the Brunei currency to AMBD.


Download PDF Version Article 2 - Roles and Responsibilities of AMBD - Conduct of Monetary Policy

  


AMBD Article

THE ROLES AND RESPONSIBILITIES OF AUTORITI MONETARI BRUNEI DARUSSALAM:

Currency Issuance and Management

 

Autoriti Monetari Brunei Darussalam (AMBD) was established on 1 January 2011 as a statutory body as stipulated in the AMBD Order, 2010.

AMBD acts as a central bank of Brunei Darussalam with responsibilities including the conduct of monetary policy, the issuance of the Brunei currency, as well as regulating and supervising banks and other financial institutions.

In this article, we will share about one of AMBD's core functions – which is to issue the Brunei currency.

Who issues Money in Brunei Darussalam?

Under the Currency Order, 2004 (CO, 2004) only AMBD is allowed to issue Brunei notes and coins. Other individuals or organisations are not allowed to issue any currency notes and coins, or any document or token, which resembles or is likely to pass as legal tender.

Types of Currency in Brunei Darussalam

AMBD currently issues three types of currencies in Brunei Darussalam:

  1. Circulation notes
  2. Circulation coins
  3. Commemorative notes and coins

AMBD maintains the standards of our circulation notes and coins. A note that does not meet our standards will be returned back to AMBD to be replaced with a note in better condition. The coins are maintained in the same way, however, due to the strong nature of the metals, the coins last longer in circulation.

1.        Circulation notes

Polymer notes were first introduced in Brunei Darussalam in 1996. Currently, the polymer notes in Brunei Darussalam are issued in the denominations of B$1, B$5, B$10, B$50, B$100, B$500, B$1000, and B$10,000.

However, as part of its initiative to reduce the risks associated with financial crimes such as money laundering, terrorism financing and counterfeiting of high denominations currency notes, AMBD has announced the cessation of the issuance of B$10,000 to banks in Brunei Darussalam, effective 2 November 2020.

More information on our notes can be found on our website at www.ambd.gov.bn.

2.       Circulation coins

The latest edition of circulation coins was issued in 2017, in conjunction with the Golden Jubilee Celebration of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam's Accession to the Throne. These coins carry the portrait of His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, Sultan and Yang Di-Pertuan of Brunei Darussalam on the obverse side whilst depicting the images of some of the royal regalias on the reverse side.

3.       Commemorative notes and coins

Commemorative notes and coins are issued to mark the special occasions for Brunei Darussalam, such as the birthday of His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, Sultan and Yang Di-Pertuan of Brunei Darussalam.

The latest commemorative note issued were in 2017 also to commemorate the Golden Jubilee Celebration of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam's Accession to the Throne.

Who decides how much money AMBD prints?

The money supply is determined by the Brunei Darussalam's Monetary Policy. More information on Brunei Darussalam's Monetary Policy will be shared in our next article.


Download PDF Version Article 1 -Roles and Responsibilities of AMBD - Currency Issuance and Management

  


Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (January 2021) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 11th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND43 million with the following details:

SeriesIssuance DateMaturity DateTenorRate
01114 January 202128 January 202114 Days0.1000%

 

With this issuance, AMBD thus far issued BND343 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 14th January 2021 stood at BND43 million.

Download AIB-011-Press-Release

  




Autoriti Monetari Brunei Darussalam

Policy Statement

2/2020

 

 Date: 31 December 2020

 

 Global and Regional Economic Developments

 

1.   In its October 2020 World Economic Outlook report, the International Monetary Fund (IMF) revised its 2020 global growth forecast from -5.2% to -4.4%. The revision reflects better-than-anticipated second quarter gross domestic product (GDP) performance, mostly in China and advanced economies. Activities in these economies have improved sooner than expected after COVID-19 related restrictions were scaled back since May, and showed signs of a more rapid recovery in the third quarter. The IMF also indicated that the global economy's recovery back to its pre-pandemic state will be long and difficult and remains prone to setbacks, particularly since there is still uncertainty surrounding public health responses and the associated disruptions to activities with recurring spikes of COVID-19 cases in some countries. Nevertheless, the recent news on COVID-19 vaccines development could bring some optimism to the unprecendented crisis.


 

2.   The pandemic outbreak has resulted in widespread declines in global commodity prices, particularly oil prices. Since their plunge in April 2020, oil prices have gradually picked up, supported by oil production cuts by members of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC in addition to an easing of lockdowns in subsequent months. However, uncertainties over compliance to production cuts, high global oil inventory levels and resiliency of oil demand as well as concerns of subsequent waves of COVID-19 weigh on future price gains. As such, oil prices are not expected to return to pre-crisis levels anytime soon. Meanwhile, natural gas prices have also seen sizeable declines amid a fall in consumption on account of COVID-19-related containment measures, and are likely to remain depressed in the near-term.

 

3.   In attempts to counter the negative economic repercussions of the pandemic, many central banks have resorted to stimulus measures on an unprecedented scale since the start of the pandemic, and are still continuing to do so. The Federal Reserve recently announced a shift in its monetary policy framework towards Flexible Average Inflation Targeting (FAIT), where the central bank is not expected to raise interest rate as long as the average inflation is at 2% target in the United States. This signals that interest rates could remain low at least until 2023. The Federal Reserve has also expressed concerns that further fiscal support may be needed to aid with economic recovery in the United States. With global recovery remaining uncertain and with the COVID-19 pandemic set to leave long-lasting economic damage, the likelihood is that monetary policy will stay ultra-loose for years to come.


 

 Brunei Darussalam's Economic Developments

 

4.   In the first half of 2020, the domestic economy expanded by 2.6% year-on-year (y-o-y) in constant prices, compared to 3.9% for the whole of 2019. The Oil and Gas sector contracted by 2.6% y-o-y with declines in both Oil and Gas mining and Manufacture of LNG by 1.9% and 4.9% y-o-y respectively. Meanwhile, the Non-Oil and Gas sector rose 9.5% y-o-y during the period driven by a jump in downstream activities by 594.7% y-o-y with new production of petroleum and chemical products, while other non-oil and gas activities contracted slightly by 2.8% y-o-y. The latter was mainly due to weaknesses in the services sector, which had largely been negatively impacted by the COVID-19 outbreak and the subsequent imposition of various containment and preventive measures nationwide during the first half of 2020. The sharpest declines were seen in the Air Transport (-60.2%), Land Transport (-21.6%) and Hotels (-21.5%) sub-sectors. Looking ahead, with the de-escalation measures rolled out in phases, some sectors are slowly returning to some form of new normal, while others will take a longer time to recover. The near-term domestic economic outlook will also depend on the performance of the oil and gas sector and the extent of further economic recoveries.

 

5.   The average consumer price index (CPI) rose by 1.9% y-o-y in the first nine months of 2020. The increase was mainly driven by the Miscellaneous Goods and Services index; followed by higher prices of Passenger Transport by Air, Household Textiles, and Mineral Water and Soft Drinks. The increasing price trend for a variety of items in the CPI basket may continue in the near-term. However, there are downside pressures to domestic prices as global inflation is expected to be softer than initially anticipated. Additionally, with the Monetary Authority of Singapore maintaining its monetary policy stance in October 2020, the implied exchange rate pass through to inflation in Brunei Darussalam will be neutral given the Brunei dollar's one-to-one parity to the Singapore dollar. Domestically, the COVID-19 impact is expected to continue to pose downward pressures on the price indices of Restaurants and Hotels, and Recreation and Culture.

 

6.   Although inflation  in some months had consistently been above 2%, AMBD's inflation forecast for 2020 remains in the range of 1% to 2% on expectations that inflation may ease slightly by the end of 2020. Looking ahead, weak price pressures may continue into 2021, and as such the inflation forecast for next year is within the range of 0% to 1%. While global inflation is expected to rise gradually in 2021 with the projected pickup in activities, the increase is likely to remain muted as overall demand may continue to be weak. Nonetheless, uncertainties surrounding the forecast remain as it also depends on the duration and intensity of the COVID-19 outbreak and thus its impact on global and domestic inflation.

 

 

 Brunei Darussalam's Financial Sector and Regulatory Developments

 

7.   Based on AMBD's macro-prudential analysis, the overall risk level of the banking sector for Q3 2020 was lower compared to Q2 2020 due to improvement in the corporate sector's credit risk. Bank liquidity and funding risks, as well as capital adequacy risk continued to below. On the other hand, the risks to banks' profitability; and offshore placements and investments were assessed to be at medium-low level. 

 

8.   As of Q3 2020, the financial sector recorded a total asset value of BND21.8 billion, of which BND12.5 billion was held by the Islamic finance sector. The banking sector represented the largest share of the financial sector as a whole at 82.3%. Total banking assets had grown by 6.3% y-o-y with total deposits increasing by 2.5% y-o-y to BND14.5 billion. Total Loans/Financing saw a modest reduction of 0.2% to BND5.83 billion.

 

9.     During the same period, the banking sector maintained high capital buffers with a Capital Adequacy Ratio of 21.1% and has remained liquid with a Liquid Assets-to-Total Assets ratio of 49.8%. Asset quality has also improved with a decline of Net Non-Performing Loans/Financing (NPLF) ratio to 2.4%. This sector experienced a decline in profitability by 4.8% y-o-y mainly due to a decrease in interest/profit income on offshore placements with banks and financial institutions by 44.8%, while the overall Return on Assets (ROA) and Return on Equity (ROE) recorded at 1.7% and 11.4% respectively.

 

10.  In promoting transparency of lending rates in the country, AMBD has recently launched its first quarterly publication on retail lending rates offered by the banking sector on AMBD's website. This initiative aims to empower consumers in their decision making, and at the same time, encourage healthy competition within the industry.

 

11.  As part of AMBD's continuous efforts to improve the supervision of the financial sector, AMBD has established the Domestic Systemically Important Bank (D-SIB) framework to identify the D-SIB(s) in the country. This will further strengthen resilience of the banking sector and overall stability of the financial sector.

 

12.  To further enhance risk-based supervisory approach in the insurance and takaful sector, AMBD has developed a risk-based capital and solvency framework.  A requirement for proper attribution of their assets and liabilities was also introduced where funds are required to be appropriately segregated, effectively controlled with established policies and procedures. To ensure smooth transition to the new framework, trial run has started in September 2020 before full implementation of the framework.

  

13.  With the imposition of travel restrictions to control the outbreak of COVID-19, the money-changing sector continued to be severely affected with the values of both buying and selling of foreign currencies declining by 82% and 95% respectively in Q3 2020 compared to the same period last year. Following the interim measure introduced in April 2020 that allows licensees to pay licence renewal fee in two phases to help ease their financial burden during this difficult period, AMBD issued a Notice on Temporary Regulatory Relief Measure for Money-Changing Business on 15 October 2020. This notice provides a one-time 80% reduction on annual licence fee to current money-changing licensees for the period between 1 January 2020 and 31 December 2021.

 

14.  As part of the efforts towards the establishment of a securities exchange in Brunei Darussalam, AMBD had issued an Exposure Draft of the Listing Rules to the industry at the end of September 2020. The aim of the exposure draft was to gather inputs and views from relevant stakeholders on the proposed Listing Rules and the framework for a two-month period from October 2020 to November 2020. 

 

15.  AMBD also completed a consultation process for the proposed Notice on Requirements for Payment Systems to obtain feedback from stakeholders including prospective payment service providers (PSPs), banks, FinTech Regulatory Sandbox participants and telecommunication companies (Telcos). This is to ensure the Notice provides adequate regulatory and supervisory framework on payment services in line with international standards and best practices, before coming into force by the end of 2020.


 

16.  The interim measure introduced by AMBD and the Brunei Association of Banks (BAB) in March 2020 to waive all local interbank transfer fees has led to over 90% y-o-y increase in the utilisation of the Real Time Gross Settlement (RTGS) system from April to September 2020, mainly due to bank customers' transfers. The use of the Automated Clearing House (ACH) Direct Credit system also showed a significant increase of 59.9% y-o-y in volume during the same period. AMBD and BAB have agreed to extend the fee waiver for another six months from 1 October 2020 to 31 March 2021.

 

 Future Developments

 

17.  AMBD continues to closely monitor the developments of COVID-19 pandemic and its impact to the financial sector. Since the introduction of the interim measures in March 2020, the banking industry has been active in providing assistance to the affected businesses and individuals in alleviating their financial burden. As the effects of COVID-19 continue to be felt and further development remains uncertain, banks are encouraged to continue to provide necessary and timely support to those who still require assistance.

 

18.  Besides efforts to enhance and streamline the prudential regulatory framework for the financial sector that is consistent with international standards and best practices, AMBD has also expanded its macro-prudential surveillance toolkit to mitigate systemic risk of the financial sector in Brunei Darussalam. Among others, AMBD is undertaking an analysis of the financial system's interconnectedness to address cross-sector linkages and common exposures as well as developing a Financial Stability Index to assess the overall stability and health of the financial system.

 

 

Data sources:

Department of Economic Planning and Statistics (DEPS)

International Monetary Fund (IMF)

 

 

Download Malay version  here

Download English version here


  



PRESS RELEASE


BRUNEI DARUSSALAM'S RESIDENTIAL PROPERTY PRICE INDEX (RPPI)

FOR QUARTER 3 2020 (Q3 2020)

 

1.         Autoriti Monetari Brunei Darussalam (AMBD) today published Brunei Darussalam's Residential Property Price Index (RPPI) for the third quarter of 2020 (Q3 2020). The index is compiled using data sourced from the banks in Brunei Darussalam, and is published with close cooperation from the Ministry of Development, in particular the Authority for Building Control and Construction Industry (ABCi).

 

2.       In Q3 2020, the RPPI was at 91.7, showing a decrease of 3.9% year-on-year compared to Q3 2019, and an increase of 8.4% quarter-on-quarter compared to Q2 2020. 




  



                                                                  

3.         Based on the mortgage data obtained from the banks, there were 182 transactions for residential properties in Q3 2020, compared to 115 transactions in Q2 2020. The majority of these transactions were for detached house (53.9%); followed by semi-detached houses (19.2%); terrace houses (17.0%); apartments (6.0%); and land (3.9%).

 

4.        The median purchase price for all types of residential properties was BND240,000 in Q3 2020, lower by 7.7% compared to Q3 2019 and higher by 0.8% compared to Q2 2020. The median purchase prices for specific types of properties were BND266,500 for detached houses; BND248,000 for semi-detached houses; BND208,800 for terrace houses; BND215,000 for apartments; and BND152,000 for land.

 

5.        The published statistics and index should be treated as general information only and one should not rely solely on these data to draw specific conclusions on a particular residential property as property values vary with location, land size, floor area and so on. 

 

6.        For more information on RPPI, members of the public may refer to the technical notes on the methodology, as well as updated statistics from on the AMBD website at www.ambd.gov.bn. Updates on the RPPI will also be available via AMBD's Instagram account @autoriti_monetari.

 

 
Autoriti Monetari Brunei Darussalam

Tarikh:         14 Jamadilawal 1442H/   29 Disember 2020M

Rujukan:      AMBD/COMMS/3


Download Malay version  here

Download English version here

Download: RPPI Technical Notes here

 




 


  


Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

Bandar Seri Begawan, Brunei Darussalam (December 2020) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 10th issuance of AMBD I-Bills.

 

The total of the sukuk issuance was BND20 million with the following details:

 

SeriesIssuance DateMaturity DateTenorRate
01024 December 20207 January 202114 Days0.0900%

 

With this issuance, AMBD thus far issued BND300 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 24th December 2020 stood at BND40 million.

Download AIB-010-Press-Release.pdf




  


 

MEDIA RELEASE

Hanoi, Vietnam – 09 December 2020  

ASEAN Capital Markets Forum Set Key Priorities for Its Next Five Years Action Plan

The 33rd ASEAN Capital Markets Forum (ACMF) Chairs' Meeting virtually held today in Hanoi endorsed the key priorities for its Action Plan 2021 – 2025 to realise the ACMF Vision 2025 of being an inter-connected, inclusive and resilient ASEAN capital market. These key priorities are: (i) driving higher levels of transparency and disclosure; (ii) continuing with regulatory harmonization; (iii) intensifying capacity building; (iv) amplifying communication and awareness; and (v) strengthening co-operation and co-ordination.

The meeting also acknowledged the progress of ACMF working groups on implementation of the six short-to-medium term focus areas identified in the Roadmap for ASEAN Sustainable Capital Markets ("Roadmap"). The meeting also accepted the provision of technical assistance from the Asian Development Bank (ADB) to engage the Climate Bonds Initiative (CBI) to support ACMF's implementation of the Roadmap focusing on sustainable finance initiatives.

Under the theme of sustainable finance, the ACMF will explore an ASEAN sustainability-linked bond standards to facilitate bond issuance for sustainability-related goals. This will complement the suite of bond standards that ACMF has already introduced for green, social and sustainability bonds. To further foster development of the region's sustainable finance ecosystem, the ACMF will be conducting a study on the development of a common green, sustainable, and transitional taxonomy for ASEAN. ACMF will also continue to monitor international developments on the convergence of sustainability disclosure standards, to further inform ACMF's initiative on corporate sustainability disclosures under the Roadmap.

The announcement of the recipients of the 6th ASEAN Corporate Governance Scorecard (ACGS) Awards was done today through the publication of an awards booklet on ACMF's website (See: https://www.theacmf.org/initiatives/corporate-governance/2019-asean-corporate-governance-scorecard-acgs-awards). The printed Certificates of Award will be distributed to the awardees by the Domestic Ranking Bodies for companies within their respective countries. The three categories of awards are as follows: (i) Top 20 ASEAN public listed companies (PLCs); (ii) ASEAN Asset Class (i.e. ASEAN PLCs that scored 97.5 points and above or 75% of the maximum attainable score of 130); and (iii) Top 3 PLCs in each participating country.

ACMF will continue to collaborate closely with the ASEAN Working Committee on Capital Market Development (WC-CMD) to drive the sustainable finance agenda in capital markets in the region. Together with WC-CMD, the ACMF aims to put forth an ASEAN voice at the 26th United Nation Climate Change Conference (COP26) in late 2021. ACMF also expressed appreciation to ADB for its technical assistance support covering activities from 2019 to 2021. 

The Meeting also saw the handing over of the ACMF Chairmanship from the ACMF Chair of 2020, State Securities Commission of Vietnam, to the Autoriti Monetari Brunei Darussalam for the year 2021, with the Securities and Exchange Commission of Cambodia as Vice-Chair.

-END-

 

About the ACMF

The ACMF is a high-level grouping of capital market regulators from all 10 ASEAN jurisdictions, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. The ACMF is currently chaired by the State Securities Commission of Vietnam.

More information on the ACMF and its initiatives can be found at the ACMF website at www.theacmf.org.

Download Press-Release-ASEAN-Capital-Markets-Forum.pdf


  

 

Press Release

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

 

 

Bandar Seri Begawan, Brunei Darussalam (December 2020) - The Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 9th issuance of AMBD I-Bills.

 

The total of the sukuk issuance was BND20 million with the following details:

 

SeriesIssuance DateMaturity DateTenorRate
00917 December 202031 December 202014 Days0.0900%

 

With this issuance, AMBD thus far issued BND280 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 17th December 2020 stood at BND40 million.


Download AIB-009-Press-Release.pdf

 

 

                                                                                           


  




PRESS RELEASE

AMBD ALERT LIST HAS BEEN UPDATED

 

1.            Autoriti Monetari Brunei Darussalam (AMBD) would like to inform members of the public that the AMBD Alert List has been updated.

 

2.           The AMBD Alert List is a list of individuals, companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by AMBD or whose activities raise a suspicion of illegal financial activity. This list is without prejudice to any further assessment by AMBD regarding the activities of the companies concerned.

 

3.            AMBD would also like to inform the public the individuals, companies or entities that have been included in the Alert List for the month of November 2020 are as follow:

 

  1. Alex Loan (FB Profile)
  2. Dana Hj Jasman
  3. Easybook (B) Sdn Bhd/Easybook Coin (EBO)
  4. Fincorp @ Financial Corporation Ltd
  5. High Liquidity Zone FX
  6. Loan Settlement Brunei
  7. Mohamed Ansari Mohamed Musthafa
  8. Rezky Eshoppe (FB Profile)
  9. Team Dinamika / Eco Racing Technology Sdn Bhd

 

4.          To access the Alert List, as well as the list of persons and institutions licensed by AMBD, members of the public may visit the AMBD website at www.ambd.gov.bn.

 

5.           AMBD would like to remind the public to not deal with any entities or individuals carrying out or offering unlicensed financial services or may be perceived as get-rich-quick schemes or pyramid schemes. Among the products and services that must be licensed by AMBD includes money changer, money remittance and money lenders. For any involvement in dealing with an unlicensed or unregulated company or individual, members of the public may not have the protection afforded under the regulatory framework administered by AMBD.

 

6.           AMBD remains committed to the financial stability of Brunei Darussalam and to safeguarding Brunei Darussalam's financial system and the interests of financial consumers. AMBD will also continue to actively monitor any suspicious or unlicensed financial activities in Brunei Darussalam. If the public have any information on unlicensed financial activities, please contact AMBD at 2380007 or email us at fci@ambd.gov.bn.

 

 

Autoriti Monetari Brunei Darussalam

Date:                    1 Jamadilawal 1442H / 16 December 2020M

Reference:          AMBD/COMMS/3

Download Malay version  here

Download English version here

 


  


Autoriti Monetari Brunei Darussalam (AMBD) is pleased to invite suitably qualified applicants to apply for the following positions:

General Requirements:

Applicants for the position must:

 

  1. Be citizens of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam;
  2. Have strong communication and interpersonal skills;
  3. Have strong analytical skills with good report writing capabilities;
  4. Have strong organisational and planning skills; and
  5. Be fluent in oral and written Malay and English, and is IT literate.

 

1.        ASSOCIATE/ASSOCIATE TRAINEE (CONTRACT BASED, FULL-TIME)

SPECIALISED MARKET

Supervise the activities of money-changing and remittance businesses, as well as pawnbrokers and moneylenders.

MAIN RESPONSIBILITIES:

  • Monitor and supervise respective licensees' compliance against licensing conditions and relevant legislations;
  • Monitor adherence to relevant international standards;
  • Assess and conduct risk profiling of licence using risk-based supervision template;
  • Conduct offsite surveillance and onsite inspections;
  • Conduct clinic sessions and briefings for relevant licensees;
  • Provide recommendations and corrective actions to close any identified gaps; and
  • Any other duties that may be assigned from time to time.

REQUIREMENTS:

  • Possess a bachelor degree with Honors in Business Accounting, Finance, Management or any related majors from universities or institutions accredited by Ministry of Education, Brunei Darussalam; and
  • Having a minimum of 3 years relevant working experience is an advantage.

 

 

2.      SURVEY INTERVIEWERS (CONTRACT BASED, PART-TIME)

MAIN RESPONSIBILITIES:

  • To carry out survey interviews on selected businesses from a range of sectors within Brunei Darussalam on a monthly basis, or when required;
  • To do data entry for the information gathered from the interviews into an electronic format; and
  • To perform other duties as may be assigned from time to time.

 

MINIMUM REQUIREMENTS:

  • Possess a good Higher National Diploma qualification or equivalent from institutions accredited by the Ministry of Education, Brunei Darussalam;
  • Possess good interpersonal and communication skills in both English and Malay;
  • Possess own transport and a valid driving licence; and
  • Having relevant work experience may be an added advantage.

 

Interested candidates are requested to submit their applications online only through the Online Job Application Form on the website (NO physical submission nor sent via email will be entertained), with the following items:- 1) Completed application form; 2) a full resume; 3) a recent passport-sized photograph; 4) a copy of applicant's IC; and 5) only copies of relevant academic certificates.

Applications should be received by AMBD not later than 12 noon on Monday, 28 December 2020.

ONLY SHORTLISTED CANDIDATES WILL BE NOTIFIED


  


PRESS RELEASE

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

 

Bandar Seri Begawan, Brunei Darussalam (December 2020) – Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 8th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND 20 million with the following details:

SeriesIssuance DateMaturity DateTenorRental Rate
008
10 December 202024 December 202014 Days0.0900%

 

With this issuance, AMBD thus far issued BND 260 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 10th December 2020 stood at BND 40 million.

Download Successful Issuance of AMBD Islamic Bills 8th Series

  


PRESS RELEASE

SUCCESSFUL ISSUANCE OF AMBD ISLAMIC BILLS

 

Bandar Seri Begawan, Brunei Darussalam (December 2020) – Autoriti Monetari Brunei Darussalam (AMBD), is pleased to announce the successful pricing of its 7th issuance of AMBD I-Bills.

The total of the sukuk issuance was BND 20 million with the following details:

SeriesIssuance DateMaturity DateTenorRental Rate
007
03 December 202017 December 202014 Days0.0900%

 

With this issuance, AMBD I-Bills thus far issued BND 240 million worth of short-term AMBD I-Bills since the maiden offering on 22nd October 2020, and the total holdings of the AMBD I-Bills outstanding as at 3rd December 2020 stood at BND 50 million.

Download Successful Issuance of AMBD Islamic Bills 7th Series

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