His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam yesterday sent a message of congratulations to Pakistani President Dr Arif Alvi and Prime Minister Imran Khan, as well as the Government and the people of Pakistan on the occasion of Pakistan Day.
Fill in manpower gap
Fadley Faisal
A robust economic ecosystem lies in the hands of the public even during COVID-19 restrictions, said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah in response to a media query on the government’s plans for economic recovery.
The minister urged the public to take the opportunity to fill in the abundant vacancies available in businesses.
He reiterated that sooner or later, the vacancies will have to be filled and if the locals are not willing to take up the jobs, they will eventually have to be offered to foreign workers.
On explaining the vicious cycle of economic turmoil in the absence of ample manpower, Dato Seri Setia Dr Awang Haji Mohd Amin Liew said, “Businesses need to run. If there is a shortage of manpower, the businesses will have to close eventually.”
The minister said the government and the COVID-19 Task Force are relentlessly monitoring the situation to improve economic activities. Nonetheless, the implications are contributed by the public, where an example of an improving economic activity would be having more individuals getting booster shots so they can go out and visit shops.
Brunei to decide first day of Ramadhan next Friday
Azlan Othman
Brunei Darussalam will sight the new moon of Ramadhan for 1443 Hijrah next Friday to determine the first day of fasting, according to the Syariah Court of Appeal yesterday.
The moon sighting will be conducted by Syariah Court judges and Syariah Court officials as well as officials from the Survey Department at the Pantai Jerudong Specialist Centre, Bukit Agok in Jerudong and Tanjung Batu in Pekan Muara in Brunei-Muara District; Bukit Ambog in Tutong District; and Bukit Lumut in Belait District.
Syariah Court of Appeal officials seek cooperation from the public not to be near the area.
Announcement for the first day of Ramadhan will be broadcast on Radio Television Brunei as soon as the moon sighting result is available.
Brunei ranks 12th in Islamic finance development
Brunei Darussalam was ranked 12th in the Refinitiv Islamic Finance Development Report 2021: Advancing Economies, in terms of overall development in the Islamic finance industry out of 135 countries being assessed.
The report revealed that based on 2020 data, Brunei Darussalam achieved 34 points in the Islamic Finance Indicator (IFDI), while the global average indicator value rose to 11.0 for 2021 from 10.8 for 2020.
The IFDI 2021 indicator score looks at key metrics that shaped the pandemic year of 2020.
The report indicated that the global Islamic finance industry has maintained a double-digit growth of 14 per cent year-on-year, amounting to USD3.374 trillion despite challenges faced due to the COVID-19 pandemic in 2020.
The report further projects that the size of of the Islamic finance industry to rise in USD4.94 trillion in 2025, with an average growth of eight per cent in the next five years. Islamic banking continues to dominate the Islamic finance asset distribution with 70 per cent share in 2020, followed by Sukuk at 19 per cent; Islamic funds at five per cent; other Islamic financial institutions (OIFI) at five per cent; and Takaful at two per cent.
The IFDI provides rankings and profiles for different Islamic finance markets around the world, with instrumental factors in five broad areas of development as the main indicators. These include quantitative development (Islamic banking, Takaful, OIFI, Sukuk and Islamic funds); knowledge (education and research), governance (regulations, Syariah governance and corporate governance); corporate social responsibility (CSR activities and CSR funds); and awareness (seminars, news and conferences).
According to the report, Malaysia, Indonesia and Saudi Arabia came as the top three Islamic finance markets in overall development, while Maldives jumped to 10th place from 12th place previously, with significant improvement in CSR.
In 2020, the Sultanate attained the top place in regulations, a sub-indicator of governance.
The report has also acknowledged Brunei with notable improvement in Islamic finance knowledge, ranking fifth in research.
In terms of assets growth, the Sultanate attained eighth place in OIFI assets with a value of USD2 billion, and top 10 in Takaful assets with a value of USD0.4 billion in 2020.
The report has also recognised the Sultanate as one of the countries with continued sizeable Sukuk issuances in the Southeast Asian region along with Malaysia and Indonesia. As a region, Southeast Asia holds the highest value of Sukuk assets at USD335 billion.
The opportunities that Islamic FinTech is creating in the Sultanate are also noted as one of the emerging Islamic finance markets. This includes the participation of the first Syariah-compliant peer-t-peer (P2P) crowdfunding platform in the FinTech Regulatory Sandbox and the publication of The State iof FinTech in Brunei Darussalam Whitepaper, which among others, highlights potential areas of growth for Islamic Fintech in Brunei Darussalam.
Firefighters clear fallen tree
James Kon
Firefighters, using a chainsaw, cleared a fallen tree – measuring 10 metres long and 11 metres wide – blocking parts of the road along Jalan Tarap Bau, Kampong Setia ‘B’ on Sunday. No injuries were reported.
Four firefighters from Sungai Kebun Fire Station led by ABK 579 Yusof bin Haji Ahmad responded to the incident after a report was received at 5.38pm, according to the Fire and Rescue Department (FRD).
The FRD reminded the public to be alert of falling trees, especially during unpredictable weather; avoid planting trees close to houses; avoid parking vehicles close to trees; and trim the branches of their trees. The public can contact 995 during an emergency.
Towards bolstering businesses, accelerating COVID-19 recovery
Azlan Othman
The United States (US) Government through the US Agency for International Development (USAID), the Association of Southeast Asian Nations (ASEAN) and the US-ASEAN Business Council announced a plan to redesign the ASEAN SME Academy, an ongoing e-learning platform for micro, small, and medium enterprises (MSMEs) in Southeast Asia initially launched in 2016, the ASEAN Secretariat announced yesterday.
Managed by the ASEAN Coordinating Committee on MSME (ACCMSME) under the leadership of the Philippines Department of Trade and Industry – Bureau of Small and Medium Enterprise Development (DTI-BSMED), the academy features interactive online courses in finance, branding, marketing, trade, and technology to accelerate MSMEs’ growth and equip them for success in the aftermath of the COVID-19 pandemic.
“The ASEAN SME Academy is a one-stop-shop for the region’s MSMEs, comprising up to 99 per cent of Southeast Asia’s firms and employ a regional average of 85 per cent of its workforce,” said US-ASEAN Business Council President and Chief Executive Officer, Ambassador Ted Osius.
“The redesigned platform will be user-friendly, content-rich, and accessible in at least two key regional languages. We’re upgrading the academy to reach many more MSMEs and give them the tools to grow their businesses as the region emerges from the pandemic.”
Meanwhile, Philippines DTI-BSMED Director Jerry Clavesillas said, “The core of the ASEAN SME Academy is a series of robust training materials from a variety of global companies and international organisations tailored for MSMEs in the region.”
He added that strengthening the academy to improve accessibility and enhance the learning experience of the business community in the region will help expand inclusive economic growth.
With the onset of the COVID-19 pandemic, MSMEs in the region quickly discovered that they need to adapt to new ways of operating, adopt new proven business practices, and pursue opportunities for future growth. These businesses need innovative skills and training courses catered for MSMEs, with a focus on COVID-19 recovery through enhanced digital and traditional skills.
“The US continues to proudly support the growth and expansion of MSMEs to benefit the region,” said Chargé d’Affaires of the US Mission to ASEAN Kate Rebholz. “Strengthening the ASEAN SME Academy platform provides the opportunity for small businesses to accelerate their post-pandemic recovery and offers new tools to help them thrive, expand, and further contribute to the region’s prosperity.”
As part of the US’ objective to drive regional prosperity in the Indo-Pacific, USAID partners with ASEAN to promote prosperity and security through economic inclusion, women’s empowerment, and good governance.
The new version of the ASEAN SME Academy jointly supported by ACCMSME, USAID, and US-ASEAN Business Council will cater to the needs of business owners and private citizens through a new design to improve accessibility and enhance learning experience, and will feature more online courses and customised capacity building programmes needed for businesses to recover stronger from COVID-19 pandemic. The redesigned flagship initiative will be unveiled in April.
The academy also contributes to the implementation of the ASEAN Strategic Action Plan for SME Development 2016 – 2025 which envisions to create globally competitive MSMEs that are seamlessly integrated into the ASEAN community by focussing on initiatives to promote productivity, technology, and innovation; increase access to finance, expand market access and globalisation; enhance policy and regulatory environment, and encourage entrepreneurship and human capital development.
Three-metre crocodile captured near fish pond
James Kon
Firefighters last Friday captured a three-metre long crocodile with a snare catcher along the Jalan Danau area, Kampong Telisai, Tutong District, after a public report on the reptile’s sighting.
Six firefighters from Bukit Beruang Fire Station led by ASO Haji Kamaruzaman responded to the wild animal disturbance incident, according to the Fire and Rescue Department (FRD).
The crocodile, found on the bank of a fish pond, was handed over to the wild animal division after being captured.
No one was injured. The FRD said wild animals such as crocodiles, snakes and monitor lizards are attracted to unkept areas infested with rats, and with grass, or with livestock or pets, which are targets for the wild animals.
Rodent infestations are more prone to attracting the wild animals, and unkempt lawns may also become their breeding or nesting grounds, the department added.
The public is urged to contact the department for wild animal encounters around residential or commercial areas. They are advised to avoid approaching or threatening the wild animals; observe cleanliness; and keep windows and doors closed when not at home.
Water disruptions due to emergency pipe repair works
James Kon
The Public Works Department (JKR) under the Ministry of Development (MoD) is carrying out emergency repair works on two water pipes damaged by landslides at Simpang 102 of Jalan Dadap, Mukim Kilanas, the department announced.
In light of the repair works, residents will experience water supply disruption and low water pressure.
The department assured the public that every step has been taken to bring back the water supply to normal as soon as possible and sought public cooperation to use water sparingly.
The public can contact Darussalam Line at 123 to obtain clean water through water tankers or lodge a report on clean water supply issues.
Temporary closure of child care centre extended
Rokiah Mahmud
The Child Care Centre, under the jurisdiction of the Community Development Department (JAPEM) under the Ministry of Culture, Youth and Sports (MCYS), will be closed for another two weeks until April 2.
The extended closure is part of the department’s precautionary measures to ensure children’s health and safety, and curb the possibility of contracting COVID-19, according to JAPEM in a press release.
For information, contact the Family, Women and Children Section under JAPEM at 2380704/2384016 or email to childcarecentre@japem.gov.bn.
Legal advice clinic resumes through Zoom
Fadley Faisal
The Law Society of Brunei Darussalam will conduct a free legal advice clinic relating to civil and criminal matters on Saturday from 9am to noon via Zoom. Applicants may email to lawsocietybrunei@gmail.com or apply via the website www.bruneilawsociety.com.
The legal advice clinic aims to promote free legal advice to the public, who, in view of their limited earning capacity, would otherwise be unable and/or constrained to obtain such assistance.
Advice will be provided on a ‘first-come-first-served’ basis. The public must not be represented by any law firm; provide a copy of recent Brunei-issued identity card and proof of current residential address, and have an income/allowance of less than BND1,500 per month.
