Brunei Darussalam Central Bank (BDCB) yesterday announced that Jana Kapital has concluded their testing in BDCB’s FinTech Regulatory Sandbox on October 10, 2024.
This is subsequent to the company’s plans to realign its business model, which has evolved beyond the original scope of its testing in the sandbox.
Jana Kapital first entered the BDCB FinTech Regulatory Sandbox on August 5, 2019 where it tested an Islamic peer-to-peer (P2P) crowdfunding platform.
The financial solution offered an alternative source of financing for micro-, small- and medium-sized enterprises (MSMEs), while also offering investment opportunities to the public.
The BDCB FinTech Regulatory Sandbox was established on February 27, 2017 to facilitate FinTech development in Brunei Darussalam.
The Sandbox provides opportunities for qualified FinTech companies to test and experiment their products and innovation in a flexible regulatory environment for a limited period within set boundaries. The types of FinTech products and services that can be considered for the Sandbox include those in the areas of banking, capital markets, insurance/takaful, or innovative areas of finance that have the potential to benefit financial consumers.
