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Borneo Bulletin Yearbook 2020
AUTORITI MONETARI BRUNEI DARUSSALAM
A statutory body acting as the country’s central
bank, Autoriti Monetari Brunei Darussalam
(AMBD) was formed after the Autoriti Monetari
Brunei Darussalam Order, 2010 commenced
in January 2011. AMBD was established to
maintain a sustainable financial ecosystem
made up of competitive and innovative financial
institutions and services.
AMBD undertakes several core functions
including the formulation and implementation
of monetary policies, regulation and supervision
of financial institutions as well as currency
management. In an effort to develop a
progressive financial services sector towards
a smart nation, AMBD launched the Digital
Payment Roadmap for Brunei Darussalam 2019-
2025 on January 21, 2019.
The roadmap outlines AMBD’s strategies to
transform Brunei Darussalam into a “Digital
Payment Nation” by 2025 that serves to drive
digital transformation in payment services
leading to the creation of a safe, sustainable,
and efficient digital payment ecosystem, which
is fundamental to a digital economy.
One of the key initiatives for this roadmap is to
develop a National Payment Hub that promotes
interoperability and easy access to consumers
and businesses in Brunei. Three key areas
have been identified by AMBD to achieve this
development.
The first key area requires the evolvement of
existing payment regulations to maintain stability
in the financial sector and promote collaboration
among market players. This will also allow
existing financial institutions and prospective