AMBD welcomes foreign investments

Izah Azahari

The Autoriti Monetari Brunei Darussalam (AMBD) welcomes foreign investment in the country’s financial sector.

Statistic shows six out of eight banks in the Sultanate as well as four out of 11 companies in the takaful or insurance sector are foreign.

This was said by Minister of Home Affairs Yang Berhormat Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr) Haji Awang Abu Bakar bin Haji Apong in his capacity as the Deputy Chairman of AMBD Board of Directors during the 17th Legislative Council session yesterday.

To encourage development in the financial sector, AMBD provided Fintech Regulatory Sandbox for companies to test innovative financial services such as e-payments.

In response to suggestions on examining payment gateways to receive online payments from abroad, the minister said that AMBD welcomes applications from payment services providers from within and outside the country.

The minister said commonly used e-commerce and digital payment services include BIBD QuickPay and NexGen, Baiduri Internet Payment Gateway and Baiduri MerchantSuite.

Minister of Home Affairs Yang Berhormat Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr) Haji Awang Abu Bakar bin Haji Apong. PHOTO: BAHYIAH BAKIR