Dominated by hydrocarbons, the energy sector in Brunei Darussalam has seen production begin to falter in the past five years and, therefore, is now awaiting the results of exploration and development programmes being carried out by international oil companies. There remains a high degree of optimism that these efforts will bear fruit, with the...
The biggest development in Brunei Darussalam’s banking sector over the past 12 months is likely the arrival of a new credit bureau. Having begun operations in the fourth quarter of 2012, the bureau is the key tool of Autoriti Monetari Brunei Darussalam (AMBD) for lenders to determine their potential customers’ credit-worthiness. Following on from...
Islamic services have long been part of the financial mix within Brunei Darussalam. For the past two decades, Islamic banking, takaful (Islamic insurance) and Islamic capital market products have been taking root and growing. These services now compete strongly against their conventional counterparts and continue to grow market share. With...
The economy, buoyed by hydrocarbon revenues, has continued to grow, enabling a new push to greater diversification and increased hiring of locals. The government maintains strong fiscal and current account surpluses and is showing a strong appetite to direct this towards future growth and diversification. Indeed, with oil and gas making up more than...
In 2013 Brunei Darussalam takes over the chairmanship of ASEAN at a crucial juncture for both the trading bloc and the country’s aspirations. The region faces several challenges, from territorial disputes in the South China Sea to implementing the criteria for the ASEAN Economic Community (AEC). With its one-year chairmanship, the Sultanate will be...
In an attempt to improve efficiencies and reduce the power bill currently facing the government, Brunei Darussalam’s utilities sector is seeing several new investments. While the current generation capacity is enough to meet consumption, the government is keen to improve efficiencies and make power generation and distribution in the country more...
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