Autoriti Monetari Brunei Darussalam (AMBD) is calling for applications to enter the AMBD Fintech Regulatory Sandbox, as part of its continuous efforts in encouraging the development of the financial sector particularly financial technology, or fintech.
The Sandbox gives the opportunity for qualified Fintech companies to test and experiment with their products and innovation in a flexible regulatory environment, for a limited period of time and within set boundaries.
The AMBD Fintech Regulatory Sandbox was established on February 27, 2017, to facilitate the development of fintech in Brunei.
Since the establishment, AMBD has approved a number of companies to test their fintech products and services in the Sandbox.
The type of fintech products and services that are suitable for the Sandbox include those in the areas of banking, capital markets and insurance/takaful or innovative areas of finance within AMBD’s regulatory scope that has the potential to benefit consumers.
AMBD remains committed to the country’s financial stability as well as the interests of financial consumers and is continuously monitoring the risks involved in and development of fintech products and services.
Interested companies, businesses and financial institutions are advised to find out more about Fintech Regulatory Sandbox Guidelines, its processes and requirements through our virtual office, The Fintech Office, AMBD, at www.ambd.gov.bn/fintech-office. – Analisa Amu
The Bruneian | BANDAR SERI BEGAWAN