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Central bank warns against fake ‘syariah compliant’ certificate

The Brunei Darussalam Central Bank issued a warning that a fraudulent ‘syariah compliant banking certificate’ was seen making rounds in the country. 

“BDCB can confirm the certificate is not authentic and was not issued by BDCB,” said the central bank in a statement on Tuedsay. 

“BDCB urges the public to be wary of fraudulent use of BDCB’s name and logo which is used to deceive the public,” it said. 

The central bank emphasised that any person who uses BDCB’s name or logo without its written permission or uses a name, symbol, design or representation that is identical 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.

The central bank also urged the public to lodge a police report immediately if they fall victim to such illegal practices.

“You may 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,” it said in the statement. 

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