Waiver period for online fund transfer fees and charges extended

Autoriti Monetari Brunei Darussalam (AMBD) and the Bank Association of Brunei (BAB), earlier this year agreed to waive online local interbank fund transfer fees and charges to all bank customers for six months beginning from April 1 to October 1.

This was done amid the uncertainties caused by the COVID-19 outbreak, and as part of the interim measures to ease the financial burden on affected individuals and businesses.

During the past six months, AMBD in consultation with BAB have been monitoring the impact of the COVID-19 outbreak on the domestic economy, in particular the affected individuals and businesses.

To that end, and to support economic activities and efforts by the Government of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam in containing COVID-19 outbreak in the country, AMBD and BAB have agreed to extend the waiver for online local interbank fund transfer fees and charges to all bank customers for another six months, from October 1 to March 31, 2021.