January 24, 2021
Lyna Mohamad
Minister of Primary Resources and Tourism Dato Seri Setia Awang Haji Ali bin Apong yesterday praised the Diplomatic Corps’ initiative to highlight their appreciation of Brunei’s greenery, architecture and culture through the ‘Brunei Darussalam from the Eyes of Foreign Diplomats and their Families’ photography exhibition.
The exhibition organised by the Diplomatic Corps in partnership with the Ministry of Culture, Youth and Sports (MCYS) through its Arts and Culture Division (BKK) and Bank Islam Brunei Darussalam (BIBD) as sponsors, showcasing 109 photographs on various themes, is currently held at the Tourist Information Centre in Pekan Tutong.
Ambassador of the Republic of Turkey to Brunei Darussalam and Acting Dean of the Diplomatic Corps Mehmet Suat Akgun welcomed the minister on arrival.
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Fintech Sector in Brunei Is Growing Steadily as Demand for Remittance Services and Better Credit Solutions Rises: Report
December 23, 2020 @ 11:38 pm By Omar Faridi
Brunei’s Fintech sector continues to grow steadily due to the rising demand for digital financial services and its government’s push to encourage its residents to use modern payment methods.
Brunei has the second-highest (after Singapore) human development index or HDI (which measures the overall quality of life of a nation’s citizens by taking into consideration factors like the quality of healthcare and education services offered) among Southeast Asian countries. Brunei is still, however, classified as a developing country. But the IMF has ranked Brunei 5th in the world in terms of GDP per capita at purchasing power parity.
Source: Xinhua|
Editor: huaxia
Haji Ali (2nd L), Brunei s Minister of Primary Resources and Tourism, and Haji Mohd Amin Liew (2nd R), Minister at the Prime Minister s Office and Second Minister of Finance and Economy, attend a signing ceremony in Bandar Seri Begawan, capital of Brunei, Dec. 22, 2020. The Muara Port Company Sdn Bhd (MPC), a joint venture between Brunei and China, signed an agreement with the Brunei government on Tuesday to develop and operate the country s largest fishing complex. Founded in February 2017 between China s Guangxi Beibu Gulf International Port Group and Brunei s Darussalam Assets, a government-backed investment agency, the MPC will take over the project to modernize, operate and manage the Muara Fish Landing Complex. (Photo by Jeffrey Wong/Xinhua)
Though still in its early stages, Brunei Darussalam’s fintech ecosystem is developing quickly on the back of rising demand for low-cost fintech products, increasing number of entrepreneurs and startups, and supportive government initiatives, according to a new report by the Monetary Authority of Brunei Darussalam (AMBD).
In a report titled The State of Fintech in Brunei Darussalam: Year 2020, the central bank provides an overview of the state of fintech in the Southeast Asian country, outlining the major fintech developments that have occurred over the past couple of years.
In particular, the paper cites the numerous market drivers that are setting a favorable environment for fintech to thrive. These include rising demand from banks for fintech services in customer acquisition as well as loan dispersion, as well as the relatively low level of loans being granted, which indicates potential unmet consumer demand for credit.