The Brunei Darussalam Central Bank (BDCB) said it has received information regarding an image of a ‘Shariah Compliant Banking Certificate’ purportedly issue by BDCB and certifying a company’s incorporation in the Sultanate. BDCB said the certificate is not authentic and was not issued by BDCB.
In a statement yesterday, BDCB urged the public to be wary of the fraudulent use of BDCB’s name and logo which is used to deceive the public.
BDCB emphasised that any person using BDCB’s name or logo without its written permission or uses a name, symbol, design or representation identical to or resembles BDCB’s name, symbol, design or representation with the intention of deceiving or to cause confusion or to be likely to deceive or cause confusion, is committing an offence under Section 74A of the BDCB Order, 2010, which carries a penalty of a fine not exceeding BND20,000 or imprisonment for a term not exceeding seven years, or both.
BDCB advised the public to avoid unlicensed online entities offering financial services.
Members of the public are advised to only deal with financial institutions licensed by BDCB. For the list of financial institutions licensed by BDCB as well as the BDCB Alert List, visit the BDCB website at www.bdcb.gov.bn.
The public can lodge a report to the Royal Brunei Police Force at the nearest police station or call 993 if they fall victim to such illegal practices. The public can also inform BDCB of any individuals/entities offering unlicensed financial services by contacting the BDCB Financial Consumer Issues at +673 8380007 or email fci@bdcb.gov.bn.
