| Azlan Othman |
FINANCIAL institutions are more readily dispensing credit these days, with many banks offering financial facilities to the public.
This is in contrast to the 1970s when banks were far more restrained in providing loans.
This was highlighted by Minister at the Prime Minister’s Office and Minister of Finance and Economy II Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah. He was responding to Legislative Council (LegCo) member Yang Berhormat Pehin Orang Kaya Putera Maharaja Dato Paduka Awang Haji Abdul Ghani bin Pehin Datu Pekerma Dewa Dato Paduka Awang Haji Abdul Rahim calling for the need for the government to set up a land property fund for local Malays, as they do not have the means to develop their land due to financial constraints.
Yang Berhormat Pehin Orang Kaya Putera Maharaja Dato Paduka Haji Abdul Ghani said these locals instead opt for developers to develop their land, resulting in them getting a small share from the development.
Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew reiterated the readiness of financial institutions in Brunei to provide financing, citing the World Bank’s Ease of Doing Business 2019 report where the country is ranked first out of 190 economies globally under the ‘Getting Credit’ category.
Yang Berhormat Pehin Orang Kaya Putera Maharaja Dato Paduka Haji Abdul Ghani also enquired about the percentage of land owned by local Malays and non-locals that are registered at the Ministry of Development.
He also asked about the figures for the number of land owned by locals that have been developed and the percentage of land that has been developed by developers.