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Financial Institutions Division
Mission
To develop a sound, dynamic and innovative financial system in Brunei Darussalam.
Objectives
- Nurturing the sense of responsibility towards public
- To develop a sound, dynamic and innovative financial system
- To create employment opportunities in financial sector
- To maintain a stable financial position
- To actively involve in international and regional financial activities
- To upgrade the professionalism in the financial sector
Functions
- Licensing and supervision
- Supervision and administration of relevant acts
- Nurturing financial discipline
- Formulation and implementation of guidelines and policies pertaining to financial sector
- Supervision and inspection of financial institutions
- Planning and implementation of human resources development in Financial Institutions
Division
- International Offshore Financial Centre
- Government Bond
- Regional and International Cooperation especially:
- International Monetary Fund
- World Bank
- BIMP-EAGA Working Group for Capitalisation and financial services
- ASEAN Reinsurance
Responsibilities
- To administer Banking Act Cap. 95, Emergency Order (Islamic Bank) 1992 and Emergency
Order (Islamic Trust Fund) 1991
- To administer Currency Act Cap. 32 (including Foreign Exchange Control Act Cap. 141)
- Insurance and Takaful (Motor Vehicles Third Party Risk Act, Cap. 90)
- To administer Finance Companies Act Cap. 89, Emergency Order (Finance Companies Act)
(Amendment) 1995 and Companies Act Cap. 39
- To administer Emergency Order (Money Changer and Remittance Business) 1994
- To cooperate with Brunei Currency Board, Currency Board Secretary is directly
responsible for Permanent Secretary, Ministry of Finance
- To assist in Policy formulation and Monetary Policy Planning
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