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Brunei Darussalam Financial Services
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Brunei Darussalam made headlines in April with the announcement of several sukuk (Islamic bond) offerings ahead of the launch of a standalone stock exchange in the Sultanate.
Preparations for the launch of a standalone stock exchange in Brunei Darussalam look to be moving ahead, supported by progress on a regulatory framework for the bourse.
Further solidifying the importance of Islamic finance in Brunei Darussalam’s developing capital market, the country’s financial regulator said in June it is preparing to issue long-term sharia-compliant bonds in the near future.
Plans to launch a stock exchange in Brunei Darussalam by 2017 will bolster its capital markets in line with plans for regional market integration as well as aid the broader drive to diversify its economy away from dependence on oil and gas.
Banks in Brunei Darussalam have so far weathered the impact of falling oil prices, winning plaudits from credit rating agencies for their resilience and stability.