ABOUT THE FINTECH OFFICE
Following the issuance of the Brunei Darussalam Financial Sector Blueprint, the FinTech function was established. This function is responsible to foster financial technology innovation in the financial sector of Brunei Darussalam. The FinTech function runs and operates the FinTech Office which serves as a one-stop virtual facilitation office where interested parties may contact AMBD on any matters related to FinTech.
THE FINTECH REGULATORY SANDBOX
On 27th February 2017, AMBD formally issued the FinTech Regulatory Sandbox Guidelines, which aims to aid in the development of FinTech companies in Brunei Darussalam through the creation of regulatory sandboxes.
A regulatory sandbox allows the testing of FinTech products and services through the usage of a framework that enables qualified companies or businesses to experiment with innovative solutions in a relaxed regulatory environment, for a limited period of time and boundaries.
On 9th December 2020, AMBD issued the amended FinTech Regulatory Sandbox Guidelines, where the application process have been streamlined to reduce the application assessment time. The full guidelines may be accessed below.
FinTech Regulatory Sandbox Guidelines (Updated 03-Feb-2021)
Before participating or engaging in the services offered by a company in the FinTech Regulatory Sandbox, it is important that consumers understand their rights. More information on the FinTech Regulatory Sandbox consumers rights at the link below.
REGULATORY SANDBOX APPLICATION PROCESS
CURRENT APPROVED SANDBOX ENTITIES
Name of CompanyService or SolutionStart of Sandbox PeriodEnd of Sandbox PeriodContact DetailsBruPay n BhdBruPay is testing an Electronic Wallet System that allows users to make payments to traders using the BruPay smartphone app.20-Aug-201831-Dec-2020Sophian Mat Suny Email: firstname.lastname@example.orgBEEP Digital Solutions Sdn BhdBEEP is testing AliPay merchant acquiring services.20 May 201931 Dec 2020Dzaidenny Muslim (Director)Email: email@example.com MMB Transfer Sdn BhdMMB is testing digital remittance and cross-border payments services utilising blockchain technology.20 May 201919 May 2021Naysan Munusamy(Country Director for Brunei)Email: firstname.lastname@example.orgJana Kapital Jana Kapital is testing Syariah-based Peer-to-Peer (P2P) Crowdfunding platform for MSMEs.05 Aug 202004 Aug 2022Haji Aidil Bahrin bin DSLJ Hj Mohd Salleh (Managing Director)Email: email@example.com
Name of Company
Start of Sandbox Period
End of Sandbox Period
BruPay n Bhd
Sophian Mat Suny Email: firstname.lastname@example.org
FREQUENTLY ASKED QUESTIONS
1. How do I contact the FinTech Office?
You may contact us at or by submitting the completed form in the contact us section below.
2. Do I need a locally registered company to be eligible for a regulatory sandbox?
Yes, please refer to the definition of FinTech companies in the FinTech Regulatory Sandbox Guidelines.
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