MEDIA RELEASE 20 March 2023 ASEAN Capital Markets Forum reinforces its role in promoting transition in the region
The ACMF convened its 38th ACMF Chairs' Meeting today hosted by the Indonesia Financial Services Authority (Otoritas Jasa Keuangan / OJK). The meeting is in a hybrid format with the in-person meeting being held in Yogyakarta, Indonesia. ACMF looks forward to the ASEAN Taxonomy Board's[1] release of the ASEAN Taxonomy for Sustainable Finance Version 2 by the end of March 2023. ACMF expressed its gratitude for the work of the ASEAN Taxonomy Board and will continue to support further development of the ASEAN Taxonomy as it completes the technical screening criteria of the Taxonomy's focus sectors in phases. The Meeting agreed on the way forward in promoting transition towards the Paris Agreement Goals in the region by developing broad principles-based transition guidelines, taking into account best practices from the most suitable existing relevant guidance. The guidelines are aimed at assisting companies in developing, communicating and maintaining the transparency of their transition plan and efforts. Acknowledging the role of the carbon market in accelerating the net zero transition, ACMF initiated Voluntary Carbon Market (VCM) Study Phase 1 last year and the Meeting today agreed to commence VCM Study Phase 2 to explore the way forward on VCM, focusing on the disclosure and transition-related aspects. The work on transition disclosure guidelines and VCM will be completed under the joint sustainable finance initiatives between ACMF and the Working Committee on Capital Market Development (WC-CMD). In promoting corporate sustainability disclosure and building awareness of the upcoming International Sustainability Standards Board (ISSB) standards, ACMF agreed to strengthen the collaboration with ISSB by having regular engagement sessions and joint events/conferences, prioritising capacity-building programs, and exploring the potential for future ACMF-ISSB cooperation to promote consistent and comparable sustainability disclosures across ASEAN. As part of the regular engagement sessions, the ISSB provided an update to the Meeting on the ISSB's standards development and capacity building plans. The Meeting endorsed the Sustainable Finance Knowledge Hub which is being developed to serve as a 'one-stop' centre to raise awareness and educate participants on sustainable finance-related issues. Upon its launch which is targeted for the end of March 2023, the Knowledge Hub will be accessible on the main page of the ACMF website. The Meeting approved the approach to developing the ASEAN Green Lane to facilitate cross-border offering of ASEAN sustainable and responsible funds under the existing ASEAN CIS Framework with the timeline for endorsement expected to be in September 2023. Under the ASEAN Green, Social, and Sustainability Bond Standards introduced in 2017 and 2018, as of 15 March 2023, US$38.06 billion ASEAN-labelled green, social, or sustainable bond/sukuk have been issued. In enhancing the quality of corporate governance practice among ASEAN publicly listed companies, the Meeting approved the proposed plan to revise the ASEAN Corporate Governance Scorecard (ACGS), which incorporates, among others, sustainability-related governance to align with the expected updates to the G20/OECD Principles of Corporate Governance. The revised ACGS is expected to be approved in September 2023. Acknowledging the importance of digital asset supervision, the Meeting continues the work of the oversight network by exchanging experiences and recent updates on policies and regulatory frameworks for digital assets. Recent updates from Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore, and Thailand were shared at the Meeting. The Meeting took note of the amplified capacity-building work plan under the ACMF Market Development Program which will include a secondment program and training program among members and collaboration with external parties. ACMF expressed its gratitude to the Asian Development Bank (ADB) for its support in providing ACMF with technical assistance as well as expert guidance to foster capital market development throughout the ASEAN region. ACMF also thanked the Sustainable Finance Institute Asia (SFIA) and the Industry Advisory Panel Working Groups under the Joint Sustainable Finance Working Group (JSFWG) for their continuous support and efforts in developing ASEAN's sustainable capital market. ----END----
Note-to-Editors About the ACMF
- The ACMF is a high-level grouping of capital market regulators from all 10 ASEAN jurisdictions, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam.
- The ACMF is currently chaired by the Indonesia Financial Services Authority (Otoritas Jasa Keuangan / OJK). The next ACMF Chair will be the Lao Securities Commission Office (LSCO).
- More information on the ACMF and its initiatives can be found on the ACMF website at www.theacmf.org.
For media queries, please contact: Indonesia Financial Services Authority (Otoritas Jasa Keuangan / OJK) Members of the Media may contact Ms. Retno Ici at retno.ici@ojk.go.id or Mrs. Ni Nyoman Rai Sudani at ninyoman.rai@ojk.go.id.
Download PDF version  here |  PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (March 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 116th issuance of BDCB I-Bills. The total of the sukuk issuance was BND35.5 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 116
| 22 March 2023 | 6 April 2023 | 15 Days | 3.3000% |
With this issuance, BDCB thus far has issued BND2.904 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 22 March 2023 stood at BND40.5 million.
Download Successful Issuance of BDCB Islamic Bills 116th Series | PRESS RELEASE
BRUNEI DARUSSALAM CENTRAL BANK'S OPERATING HOURS DURING THE MONTH OF RAMADHAN 1444H 1. Brunei Darussalam Central Bank (BDCB) would like to inform the public that, in welcoming the month of Ramadhan 1444H, BDCB will be closed on Thursday, 23 March/ Friday, 24 March 2023M corresponding to 1 Ramadhan 1444H, and will resume its operations on Friday, 24 March/ Monday, 27 March 2023M. 2. This closure also includes BDCB's Currency Gallery and Gift Shop; BDCB Coin Deposit Machine; Credit Bureau, Financial Consumer Complaints and Unclaimed Balance service counters; as well as the Real Time Gross Settlement (RTGS) System and the Automated Clearing House (ACH) System. 3. Following this, BDCB would also like to inform the public that its operating hours for the month of Ramadhan 1444H are as follows:
4. BDCB would like to apologise for any inconvenience caused and would like to take this opportunity to wish all Muslims Ramadhan Mubarak. Brunei Darussalam Central Bank Date: 29 Sya'ban 1444H / 22 March 2023M
Reference: BDCB/COMMS/3 Download Malay version here
Download English version here
|
PRESS RELEASE
BDCB ALERT LIST UPDATE MARCH 2023 1. Brunei Darussalam Central Bank (BDCB) would like to inform members of the public that the BDCB Alert List has been updated. 2. The BDCB Alert List is a list of individuals, companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BDCB or whose activities raise a suspicion of illegal financial activity. This list is without prejudice to any further assessment by BDCB regarding the activities of the companies concerned. 3. BDCB would also like to inform the public that the following individuals, companies or entities have been included in the Alert List for the month of March 2023: i. Personal Loans Singapore & Brunei (IG profile) / personal_loan_singapore_brunei / Online Money Loan Brunei (IG profile) / online_money.loan_brunei (8134669); ii. Kim Ong (FB Profile); iii. Whale Capital Investment (+60176858379); iv. FXOPEN Investment / fxopen brunai (IG profile); v. Goldfx_BN; vi. Invetsment_brunei (IG profile); vii. Bank_investasi_goldsaham / Gold Saham Trade Investment; viii. PW-BNTRADE (IG profile) (8220472); and ix. bsntrader_bn.
4. The BDCB Alert List can be found here. 5. BDCB would like to remind the public to only deal with financial institutions licensed by BDCB, and to avoid any unlicensed entities or individuals carrying out or offering financial services, especially those with characteristics of get-rich-quick or pyramid schemes. Among the financial products and services that must be licensed by BDCB include money changer, money remittance and money lending. Members of the public are reminded that they may not have the protection provided under BDCB's regulatory framework should they choose to deal with entities, companies or individuals which are unlicensed or unregulated. 6. Members of the public may visit the BDCB website at www.bdcb.gov.bn or follow BDCB's Instagram @centralbank.brunei for more information on the dangers of unlicensed financial entities as well as on how to identify financial scams. 7. BDCB remains committed to the financial stability of Brunei Darussalam and to safeguarding Brunei Darussalam's financial system and the interests of financial consumers. BDCB will also continue to actively monitor any suspicious or unlicensed financial activities in Brunei Darussalam. If the public have any information on unlicensed financial activities, please contact BDCB at 2380007 or 8380007 or email us at fci@bdcb.gov.bn. Brunei Darussalam Central Bank Date: 29 Sya'ban 1444H / 22 March 2023M Reference: BDCB/COMMS/3
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| PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (March 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 115th issuance of BDCB I-Bills. The total of the sukuk issuance was BND5 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 115
| 16 March 2023 | 30 March 2023 | 14 Days | 3.2500% |
With this issuance, BDCB thus far has issued BND2.869 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 16 March 2023 stood at BND25 million.
Download Successful Issuance of BDCB Islamic Bills 115th Series |
PRESS RELEASE BUSINESS SENTIMENT INDEX (BSI)
FOR BRUNEI DARUSSALAM FOR FEBRUARY 2023 1. Brunei Darussalam Central Bank (BDCB) today published Brunei Darussalam's Business Sentiment Index (BSI) for the month of February 2023. The index is based on surveys conducted on over 500 micro, small, medium and large businesses from eleven economic sectors in Brunei Darussalam, across all districts. 2. The monthly index is designed to measure the level of business confidence/sentiment in the country covering various aspects including current and future business conditions; investments; employment of workers; as well as costs of running the businesses. Therefore, the BSI serves as a leading macroeconomic indicator with its forward-looking element. 3. The BSI and sub-indices can be interpreted as below: 
4. There are nine sub-indices within the BSI. The Current Business Conditions sub-index, which is the main headline index for the BSI, was 50.2 in February 2023, compared to 50.0 in January 2023. This indicates that, in general, private sector businesses expected to experience better business conditions in February 2023 compared to January 2023. Despite February being a shorter month, businesses remained optimistic due to expectations that there would be improved production and also increased activities with the commencement of new projects as well as expectations that ongoing sales promotions can spur demand for their goods and services. Looking ahead, the index for one month (1M) ahead stood at 50.2, which indicated that businesses continued to be optimistic for the near future. Main reasons cited that contributed to the optimism were the continued activities from projects, and expected increasing demand in preparation for Ramadhan and Hari Raya Aidilfitri.
5. The Investment sub-index was 50.1 for the current month, 50.3 for one month (1M) ahead and 50.5 for three months (3M) ahead. This indicates that, in general, businesses expected to raise their investment expenditures in February 2023 and are expecting to continue increasing their level of investments over the next few months. Businesses expected to firm up investment expenditure for the purchase of machinery, equipment and materials for upcoming projects, office renovations and expansions of the business, upgrading systems to improve productivity and efficiency, as well as increasing inventory for the upcoming Hari Raya Aidilfitri celebration. 6. The Employment sub-index was 50.3 for the current month, and 50.4 for 1M ahead. This indicates that businesses generally expected to increase their hiring in February 2023 and in the following month. While many businesses stated that the plan to increase employee headcount is for the purposes of new and ongoing projects, other businesses also mentioned that there was a need to hire more employees in order to keep up with expected increase in demand. 7. The Costs sub-index was 50.0 for the current month, and 50.1 for 1M ahead. Companies generally expected the costs of running their businesses in February 2023 to be similar to that of January 2023. Businesses also expected costs for the month of March 2023 to be higher than February 2023. In general, businesses' expectation that costs will increase in the near future is contributed by rising costs of materials and higher spending for salary payments as well as marketing and promotional activities. 
8. In terms of economic sectors, three out of eleven sectors recorded optimism in February 2023, which are the Other Private Services sector, contributed by increased number of projects and promotional activities this month, as well as the Oil and Gas Related and the Manufacturing sectors, where production and sales activities were also expected to pick up. On the other hand, five out of the eleven sectors indicated pessimistic business conditions. In addition to February being a shorter month, the Israk Mikraj and 39th National Day public holidays also contributed to fewer sales in the month of February 2023 compared to January 2023. This pessimism was echoed by the Agriculture, Forestry, Fisheries and Livestock; Finance and Insurance; Construction and the Transport and Communication sectors. Additionally, the Hotels and Restaurants sector expected lower occupancy rates for the month of February 2023. Meanwhile, other sectors reported similar business conditions in February 2023 compared to January 2023. 
9. In terms of the index by business size, micro-sized businesses reported better business conditions in February 2023 compared to January 2023. Meanwhile, small companies reported similar business conditions in February 2023; and medium and large companies had a pessimistic outlook on business conditions compared to the previous month. 
10. The time-series charts for the BSI and its sub-indices since August 2020 can be found in ANNEX 1. For more information on the BSI, members of the public can refer to the technical notes on the methodology and statistics on the BDCB website at www.bdcb.gov.bn and follow updates on the BSI through future press releases and BDCB's Instagram account @centralbank.brunei. Brunei Darussalam Central Bank Date: 27 Sya'ban 1444H / 20 March 2023M
Ref: BDCB/COMMS/3 Download Malay version here English version here
Download BSI Methodology Technical Notes ANNEX 1 Business Conditions 
Note: For 1M Ahead Business Conditions, the result compares expected business conditions in the month ahead compared to the current month. For Business Conditions sub-index, above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month. Investments 
Note: For 1M Ahead Investments, the result compares expected investment in the next month compared to the current month while the 3M Ahead Investment, the result compares expected investments 3 months ahead compared to the current month. For Investments sub-index, above 50 indicates increased investment compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates reduced investment compared to the previous month. Employment 
Note: For 1M Ahead Employment, the result compares expected employment in the next month compared to the current month. For Employment sub-index, above 50 indicates more new hires compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates reduction in employee headcount compared to the previous month. Costs  Note: For 1M Ahead Costs, the result compares expected costs in the next month compared to the current month. For Costs sub-index, above 50 indicates an increase in costs and conversely for below 50. Index at 50 indicates costs were more or less the same in the current month compared to previous month. Sectoral BSI – August 2020 to February 2023 
Note: An index above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month. Sentiment by Business Size 
Note: An index above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month. |
PRESS RELEASE
SUCCESSFUL ISSUANCES OF BRUNEI DARUSSALAM GOVERNMENT SUKUK AL-IJARAH SECURITIES
Bandar Seri Begawan, Brunei Darussalam (March 2023) - The Brunei Darussalam Central Bank (BDCB), agent to the Government of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam in managing and administering Sukuk Al-Ijarah issuances, is pleased to announce the successful pricing of its 215th issuance of Sukuk Al-Ijarah securities.
The total of the sukuk issuance was BND50 million with the following details: | Series | Issuance Date | Maturity Date | Tenor | Rental Rate | 215
| 09 March 2023
| 07 March 2024
| 364 Days
| 3.6875% |
With this issuance, the Brunei Government has thus far issued over BND15.99 billion worth of Sukuk Al-Ijarah securities since the maiden offering on 6th April 2006, and the total holdings of the Brunei Government Sukuk outstanding as at 9th March 2023 stood at BND205 million.
Download Successful Issuances of Brunei Darussalam Government Sukuk Al-Ijarah Securities 215th Series | PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (March 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 114th issuance of BDCB I-Bills. The total of the sukuk issuance was BND5 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 114
| 9 March 2023 | 22 March 2023 | 13 Days | 3.2500% |
With this issuance, BDCB thus far has issued BND2.864 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 9 March 2023 stood at BND25 million.
Download Successful Issuance of BDCB Islamic Bills 114th Series | PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (March 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 113th issuance of BDCB I-Bills. The total of the sukuk issuance was BND5 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 113
| 2 March 2023 | 16 March 2023 | 14 Days | 3.2000% |
With this issuance, BDCB thus far has issued BND2.844 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 2 March 2023 stood at BND45 million.
Download Successful Issuance of BDCB Islamic Bills 113th Series |
PRESS RELEASE MEMORANDUM OF UNDERSTANDING BETWEEN FINANCIAL INTELLIGENCE UNIT, BRUNEI DARUSSALAM CENTRAL BANK AND THE AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE 1. The Financial Intelligence Unit, Brunei Darussalam Central Bank (FIU, BDCB) signed a Memorandum of Understanding (MOU) with the Australian Transaction Reports and Analysis Centre (AUSTRAC) in Singapore on Tuesday, 14 February 2023. 2. Under the MOU, both agencies agree to cooperate in the exchange of financial intelligence that may assist in the investigation and prosecution of persons suspected of money laundering or terrorism financing. This marks the strong commitment of both agencies in the global fight against money laundering, terrorism financing, and other serious crimes. 3. FIU, BDCB and AUSTRAC have had past collaborations on projects related but not limited to, analyst hubbing programs and capacity-building initiatives preceding to the signing of the MOU. Brunei Darussalam welcomes this MOU as another important milestone in the FIU, BDCB and AUSTRAC's areas of successful cooperation. 4. The MOU with AUSTRAC is the eighth MOU signed by the FIU, BDCB. Current MOUs include those signed with the Financial Intelligence Units of Malaysia, Indonesia, South Korea, Bangladesh, Cambodia, Singapore, Laos and The Philippines. 5. The signing of MOUs with other Financial Intelligence Units is in line with the Principles of Information Exchange of the Egmont Group, the global organisation of international Financial Intelligence Units.
6. Moreover, the signing of MOUs is an important step towards complying with international standards on anti-money laundering and combating the financing of terrorism, in particular, the Financial Action Task Force, Recommendation 29. 7. The FIU, BDCB and AUSTRAC are the central agencies in Brunei Darussalam and Australia respectively for receiving, requesting, analysing, and disseminating financial intelligence and other information related to money laundering and terrorism financing. Brunei Darussalam Central Bank Ref: BDCB/COMMS/3 Date: 9 Sya'ban 1444/ 2 March 2023
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| PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (March 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 112h issuance of BDCB I-Bills. The total of the sukuk issuance was BND40 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 112
| 24 February 2023 | 9 March 2023 | 13 Days | 3.1500% |
With this issuance, BDCB thus far has issued BND2.839 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 24 February 2023 stood at BND65 million.
Download Successful Issuance of BDCB Islamic Bills 112th Series |
PRESS RELEASE
SUCCESSFUL ISSUANCES OF BRUNEI DARUSSALAM GOVERNMENT SUKUK AL-IJARAH SECURITIES
Bandar Seri Begawan, Brunei Darussalam (March 2023) - The Brunei Darussalam Central Bank (BDCB), agent to the Government of His Majesty The Sultan and Yang Di-Pertuan of Brunei Darussalam in managing and administering Sukuk Al-Ijarah issuances, is pleased to announce the successful pricing of its 214th issuance of Sukuk Al-Ijarah securities.
The total of the sukuk issuance was BND100 million with the following details: | Series | Issuance Date | Maturity Date | Tenor | Rental Rate | 214
| 09 February 2023
| 11 May 2023
| 91 Days
| 3.8125% |
With this issuance, the Brunei Government has thus far issued over BND15.94 billion worth of Sukuk Al-Ijarah securities since the maiden offering on 6th April 2006, and the total holdings of the Brunei Government Sukuk outstanding as at 9th February 2023 stood at BND205 million.
Download Successful Issuances of Brunei Darussalam Government Sukuk Al-Ijarah Securities 214th Series |
PRESS RELEASE BUSINESS SENTIMENT INDEX (BSI)
FOR BRUNEI DARUSSALAM FOR JANUARY 2023 1. Brunei Darussalam Central Bank (BDCB) today published Brunei Darussalam's Business Sentiment Index (BSI) for the month of January 2023. The index is based on surveys conducted on almost 600 micro, small, medium and large businesses from 11 economic sectors in Brunei Darussalam, across all districts. 2. The monthly index is designed to measure the level of business confidence/sentiment in the country covering various aspects including current and future business conditions; investments; employment of workers; as well as costs of running the businesses. Therefore, the BSI serves as a leading macroeconomic indicator with its forward-looking element. 3. The BSI and sub-indices can be interpreted as below:
4. There are nine sub-indices within the BSI. The Current Business Conditions sub-index, which is the main headline index for the BSI, was 50.0 in January 2023, same as December 2022. This indicates that, in general, private sector businesses expected similar business conditions in January 2023 compared to the previous month. One common reason cited was that January 2023 would be a quieter and shorter working month with several public holidays. While some businesses reported that events such as the Royal Wedding, Chinese New Year and the 26th Consumer Fair would contribute to higher demand for their products and services, others felt that the level of consumer spending would not be as high in the month of January 2023 after the December holidays. Looking ahead, businesses were generally more optimistic about their performance in February 2023 compared to January 2023 as indicated by the index for one month (1M) ahead, which stood at 50.5. This optimism was mainly driven by expectations of higher production due to higher demand; more incoming projects; commencement of new projects; as well as upcoming events such as the 39th National Day.
5. The Investment sub-index was 50.0 for the current month, 50.0 for one month (1M) ahead, and 50.7 for three months (3M) ahead. This indicates that, in general, businesses expected to maintain their investment expenditures in January and February 2023 and will only increase investments in the next three months. The main factors shared for the increased investment are for the purchase of machinery and equipment for new projects; replacing or fixing old equipment; expansion and renovations of offices and factories; and increasing inventory in preparation for the Hari Raya Aidilfitri 1444H celebrations, during which more sales were expected.
6. The Employment sub-index was 50.2 for the current month, and 50.3 for 1M ahead. This indicates that businesses generally expected to increase their hiring in January 2023 and in the following month. Businesses stated that the plan to increase their employee headcount is in line with expectations that business conditions will pick up in the next month.
7. The Costs sub-index was 49.9 for the current month, and 50.0 for 1M ahead. This indicates that companies generally expected the costs of running their businesses to be lower in January 2023 compared to December 2022. Among the reasons reported include reduced activities and costs of raw materials during the month, as well as lower salary costs compared to the previous month. Businesses also expected costs for the month of February 2023 to be similar to January 2023.
8. In terms of economic sectors, five out of eleven sectors recorded optimism in January 2023. The sector showing the biggest increase in sentiment was the Health and Education sector, mainly due to the start of the new school year. The Hotels and Restaurants sector and the Agriculture, Forestry, Fisheries and Livestock sector also reported optimism in January 2023, with expectations of increased activities related to the Chinese New Year celebrations and other festive events. Optimism was also reported by the Finance and Insurance sector and Other Private Services sector with increased activities and some companies securing more contracts and projects at the start of the year. Meanwhile, three out of eleven sectors indicated pessimism in January 2023 compared to the previous month, with the Oil and Gas Related and Construction sectors citing fewer projects at the start of the year, while others were experiencing project delays due to bad weather conditions. Similarly, the Transport and Communication sector reported pessimism in January 2023 following the peak travel period experienced in December 2022. Meanwhile, other sectors reported similar business conditions in January 2023 compared to last month.
9. In terms of the index by business size, medium-sized businesses reported better business conditions in January 2023 compared to December 2022 as residents returned from their year-end travels to resume domestic spending. Meanwhile, micro, small and large companies reported similar business conditions in January 2023 compared to the previous month.
10. The time-series charts for the BSI and its sub-indices since August 2020 can be found in ANNEX 1. For more information on the BSI, members of the public can refer to the technical notes on the methodology and statistics on the BDCB website at www.bdcb.gov.bn and follow updates on the BSI through future press releases and BDCB's Instagram account @centralbank.brunei. Brunei Darussalam Central Bank Date: 1 Sya'ban 1444H / 22 February 2023M
Ref: BDCB/COMMS/3 Download Malay version here English version here Download BSI Methodology Technical Notes
ANNEX 1 Business Conditions 
Note: For 1M Ahead Business Conditions, the result compares expected business conditions in the month ahead compared to the current month. For Business Conditions sub-index, above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month. Investments  Note: For 1M Ahead Investments, the result compares expected investment in the next month compared to the current month while the 3M Ahead Investment, the result compares expected investments 3 months ahead compared to the current month. For Investments sub-index, above 50 indicates increased investment compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates reduced investment compared to the previous month. Employment 
Note: For 1M Ahead Employment, the result compares expected employment in the next month compared to the current month. For Employment sub-index, above 50 indicates more new hires compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates reduction in employee headcount compared to the previous month. Costs 
Note: For 1M Ahead Costs, the result compares expected costs in the next month compared to the current month. For Costs sub-index, above 50 indicates an increase in costs and conversely for below 50. Index at 50 indicates costs were more or less the same in the current month compared to previous month. Sectoral BSI – August 2020 to January 2023 
Note: An index above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month. Sentiment by Business Size 
Note: An index above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month. | PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (February 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 111th issuance of BDCB I-Bills. The total of the sukuk issuance was BND25 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 111
| 16 February 2023 | 2 March 2023 | 14 Days | 3.1500% |
With this issuance, BDCB thus far has issued BND2.799 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 16 February 2023 stood at BND40 million.
Download Successful Issuance of BDCB Islamic Bills 111th Series |
PRESS RELEASE BDCB ALERT LIST UPDATE JANUARY 2023 1. Brunei Darussalam Central Bank (BDCB) would like to inform members of the public that the BDCB Alert List has been updated. 2. The BDCB Alert List is a list of individuals, companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BDCB or whose activities raise a suspicion of illegal financial activity. This list is without prejudice to any further assessment by BDCB regarding the activities of the companies concerned. 3. BDCB would also like to inform the public that the following individuals, companies or entities have been included in the Alert List for the month of January 2023: a) Asrihafiz HA [FB profile]; b) Roopchand Tanwar [FB profile]; c) Good Hope [FB profile] [8112811]; d) Refinance Loan Brunei [IG Profile] [7258399] / refinance_loan / refinance_loan.brunei [Bgn Desa Delima, Jalan Serusop, Bandar Seri Begawan BB4513]; e) Bank Loan Settlement & Loan / Personal loans & ngurusma [8115653 / 7638523]; f) Emergn Personal Loan / emergn.money_loan.s [IG Profile] [8240523]; g) FB Fillah [8617606]; h) Shima Eshop [FB Profile] [8970147]; i) Team SKK [+60 16-374 4105]; j) Loan Agency BND [IG Profile] [7261157]; k) Loan Personal Brunei Darussalam [7231444]; l) Loan Sinar Berusaha [IG Profile] [+62 853 5325 9692]; m) Loan Syariah Brunei Darussalam [FB Profile] [7270619]; n) Loan Trusted Brunei Darussalam / Loanloan trusted Brunei Darussalam [8242580]; o) HSB Trade Invastment / HSB Traders Investment / 8608127; and p) Loan Trusted.
4. The BDCB Alert List can be found here. 5. BDCB would like to remind the public to only deal with financial institutions licensed by BDCB, and to avoid any unlicensed entities or individuals carrying out or offering financial services, especially those with characteristics of get-rich-quick or pyramid schemes. Among the financial products and services that must be licensed by BDCB include money changer, money remittance and money lending. Members of the public are reminded that they may not have the protection provided under BDCB's regulatory framework should they choose to deal with entities, companies or individuals which are unlicensed or unregulated. 6. Members of the public may visit the BDCB website at www.bdcb.gov.bn or follow BDCB's Instagram @centralbank.brunei for more information on the dangers of unlicensed financial entities as well as on how to identify financial scams. 7. BDCB remains committed to the financial stability of Brunei Darussalam and to safeguarding Brunei Darussalam's financial system and the interests of financial consumers. BDCB will also continue to actively monitor any suspicious or unlicensed financial activities in Brunei Darussalam. If the public have any information on unlicensed financial activities, please contact BDCB at 2380007 or 8380007 or email us at fci@bdcb.gov.bn.
Brunei Darussalam Central Bank Date: 22 Rejab 1444H / 13 January 2023M Reference: BDCB/COMMS/3
Download Malay version BDCB Siaran Akhbar -Updated BDCB Alert List
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| PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (February 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 110th issuance of BDCB I-Bills. The total of the sukuk issuance was BND15 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 110
| 09 February 2023 | 24 February 2023 | 14 Days | 3.1000% |
With this issuance, BDCB thus far has issued BND2.774 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 09 February 2023 stood at BND20 million.
Download Successful Issuance of BDCB Islamic Bills 110th Series | PRESS RELEASE SUCCESSFUL ISSUANCE OF BDCB ISLAMIC BILLS Bandar Seri Begawan, Brunei Darussalam (February 2023) – Brunei Darussalam Central Bank (BDCB) is pleased to announce the successful pricing of its 109th issuance of BDCB I-Bills. The total of the sukuk issuance was BND5 million with the following details:
| Series | Issuance Date | Maturity Date | Tenor | Rate | 109
| 02 February 2023 | 16 February 2023 | 14 Days | 2.9000% |
With this issuance, BDCB thus far has issued BND2.754 billion worth of short-term BDCB I-Bills since the maiden offering on 22 October 2020, and the total holdings of the BDCB I-Bills outstanding as at 02 February 2023 stood at BND5 million.
Download Successful Issuance of BDCB Islamic Bills 109th Series
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JOINT PRESS RELEASE Brunei Darussalam Central Bank and Monetary Authority of Singapore Deepen Cooperation in Financial Supervision Singapore, 2 February 2023… Brunei Darussalam Central Bank (BDCB) and Monetary Authority of Singapore (MAS) reaffirmed the close ties between the two authorities at the fourth BDCB-MAS Bilateral Roundtable, and discussed new areas of collaboration. 2. At the Roundtable, BDCB Managing Director, Rokiah Badar and MAS Managing Director, Ravi Menon, signed a Memorandum of Understanding (MOU) to deepen cooperation in banking and insurance supervision. The MOU will facilitate the effective supervision of banks and insurers operating across the two jurisdictions, including through information exchange and cross-border on-site inspections. 3. BDCB and MAS also exchanged views on recent economic and financial developments, cooperation in sustainable finance to accelerate climate change mitigation and adaptation in ASEAN, as well as developments in Central Bank Digital Currencies and cross-border payments.
4. Ms. Rokiah Badar remarked that “The MOU solidifies existing longstanding relationships between BDCB and MAS in the field of financial sector development and stability." 5. Mr. Menon said, “We had a good exchange of views, further strengthening the very good relations between MAS and BDCB." About Brunei Darussalam Central Bank Brunei Darussalam Central Bank is committed to achieving and maintaining a sound and dynamic financial system through the implementation of measures and execution of financial sector reforms in line with the national economic development objectives. These include ensuring the stability of domestic prices; maintaining the stability of the financial system, by formulating financial regulations and prudential standards; assisting in the establishment and functioning of efficient payment systems and subsequently, to oversee them; and to foster and develop a sound and progressive financial services sector. About the Monetary Authority of Singapore As Singapore's central bank, the Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore's exchange rate, official foreign reserves, and liquidity in the banking sector. As Singapore's integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and financial market infrastructures. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry. For media queries, please contact: Dk Sri Joedianna Binti Pg Hj Mohammed Executive Director Managing Director's Office (Corporate Planning and Development, and Corporate Communications) Brunei Darussalam Central Bank Tel: +673 8318388 Email: srijoediana.mohammed@bdcb.gov.bn Bridgitte Lee Deputy Director (Communications)
Monetary Authority of Singapore Tel: +65 62299262
Email: bridgitte_lee@mas.gov.sg
Download PDF Joint Press Release - 4th BDCB-MAS Bilateral Roundtable
| PRESS RELEASE BRUNEI DARUSSALAM RANKED 12th IN ISLAMIC FINANCE DEVELOPMENT INDICATORS 2022 1. Brunei Darussalam has retained 12th place, amongst 136 assessed countries globally, for two years in a row in the ICD-Refinitiv Islamic Finance Development Report 2022: Embracing Change. The report, which is based on 2021 data, revealed that Brunei Darussalam recorded 31 points in the Islamic Finance Development Indicator (IFDI), whilst the global average indicator value declined to 9.0 in 2022 from 11.0 for 2021. The IFDI 2022 indicator score measures the state of the development of the Islamic finance industry in 2021.
2. The report also indicated that the global Islamic finance industry reached another milestone in 2021 by maintaining a double-digit growth in total assets size of 17% year-on-year, amounting to USD4 trillion, as the world began its recovery from the effects of the COVID-19 pandemic. The report further projects that the size of the Islamic finance industry to rise to USD5.9 trillion by 2026, mainly driven by growths in Islamic banking and the sukuk market. In terms of total global Islamic finance assets, Islamic banking continued to dominate the Islamic finance asset distribution with 70% share in 2021; followed by sukuk at 18%; Islamic funds at 6%; Other Islamic Financial Institutions (OIFI) at 4%; and takaful at 2%. 3. The report also provides IFDI rankings for notable Islamic finance markets around the world whereby the recent IFDI is based on an enhanced model incorporating new metrics related to Environment, Social and Governance (ESG) and Islamic FinTech, and changes to the weightage of each indicator. The five main indicators for IFDI are Financial Performance (formerly known as Quantitative Development); Governance; Sustainability; Knowledge; and Awareness indicators. According to the report, Malaysia, Saudi Arabia and Indonesia emerged as the top three Islamic finance markets in overall development, while Bangladesh jumped to 10th place from 14th place, with significant improvement in the Financial Performance and Awareness indicators. 4. Brunei Darussalam maintained its top place in Regulations, a sub-indicator of Governance measured by regulations issued for Islamic banking; specific accounting; Syariah governance; takaful; sukuk; Islamic funds; and the FinTech sandbox. The report also ranked Brunei Darussalam at 4th place for sub-indicator on Events under the Awareness indicator, and 5th place for sub-indicator on Research under the Knowledge indicator. 5. In terms of Financial Performance indicator, Brunei Darussalam attained 8th place in OIFI assets with a value of USD2 billion. This includes assets in FinTech companies, investment firms, financing companies, leasing and microfinance firms. 6. The ICD-Refinitiv Islamic Finance Development Report 2022: Embracing Change can be accessed on Refinitiv's website www.refinitiv.com, or via the following link https://www.refinitiv.com/en/resources/special-report/islamic-finance-development-report-2022.
Brunei Darussalam Central Bank Date: 5 Rejab 1444H/ 27 January 2023 Ref: BDCB/COMMS/
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PRESS RELEASE
BUSINESS SENTIMENT INDEX (BSI) FOR BRUNEI DARUSSALAM FOR DECEMBER 2022
1. Brunei Darussalam Central Bank (BDCB) today published Brunei Darussalam's Business Sentiment Index (BSI) for the month of December 2022. The index is based on surveys conducted on more than 600 micro-, small-, medium- and large-sized businesses from eleven economic sectors in Brunei Darussalam, across all districts. 2. The monthly index is designed to measure the level of business confidence/sentiment in the country covering various aspects including current and future business conditions; investments; employment of workers; as well as costs of running the businesses. Therefore, BSI serves as a leading macroeconomic indicator with its forward-looking element.
3. The BSI and sub-indices can be interpreted as below:
4. There are nine sub-indices within the BSI. The Current Business Conditions sub-index, which is the main headline index for the BSI, was 50.0 in December 2022 compared to 50.3 in November 2022. In general, private sector businesses experienced similar business conditions in December compared to the previous month. A number of businesses expected better performance with higher demand for their products and services; new projects; coupled with the holiday and festive season; and end of year sale promotions. While December is typically the month when many employees receive their annual salary bonuses, some companies projected dampening of domestic demand and sales with expectations of many residents traveling abroad. Looking ahead, businesses were generally slightly optimistic about their performance in January 2023 compared to December 2022 as indicated by the index for one month (1M) ahead, which stood at 50.1. This was driven by expectations of more projects and events in the new year including the upcoming Chinese New Year, and lessened overseas travel with the start of the school term.
5. The Investment sub-index was 50.0 for the current month, 50.0 for one month (1M) ahead and 50.6 for three months (3M) ahead. This indicates that, in general, businesses expected to maintain their investment expenditures and only increase it in the next three months. Businesses planned to invest in various aspects from farm infrastructure; purchase of materials for new projects, new company vehicles, machinery, office equipment and systems as part of digitalisation effort; office renovations; opening of new branches; and stocking up on inventory for the upcoming festive season.
6. The Employment sub-index was 50.0 for the current month, and 50.4 for 1M ahead. This indicates that in December 2022, most businesses generally expected to maintain their number of workers as per previous month. However, businesses stated plans of hiring more the following month to replace those who have left, as well as to expand their workforce, in line with expansion plans and increased number of projects.
7. The Costs sub-index was 50.3 for the current month, and 50.0 for 1M ahead. This indicates that companies generally expected the costs of running their businesses to increase in December 2022. Several factors were cited, such as higher project costs; shipping costs; increased expenditure on repairs and maintenance; salary expenses including staff bonuses; increased marketing activities; and the increased airfares for outgoing foreign employees. Businesses also expected costs for the month of January 2023 to be similar to December 2022.
8. In terms of economic sectors, five out of eleven sectors recorded optimism in December 2022. Three sectors showing the biggest increase in sentiment are impacted by the holiday season. These are the Transport & Communication sector which were optimistic as December is the peak period where residents travel abroad during the school holidays; Other Private Services sector with higher demand for their services; and Hotels and Restaurants sector due to the increase in events/functions and occupancy rates in hotels. Two other sectors which showed slight optimism are the Agriculture, Forestry, Fisheries and Livestock sector, and Oil and Gas Related sectors. Both sectors recorded an increase in their performance with higher production levels. On the other hand, two sectors indicated pessimism in December 2022, where the Construction sector reported fewer projects towards the year end, and Wholesale and Retail Trade sector was not experiencing a boost in domestic spending. Meanwhile, several other sectors reported similar business conditions in December 2022 compared to November 2022. 
9. In terms of the index by business size, micro- and small-sized businesses reported pessimism due to an expectation of a quieter month with fewer projects and more people travelling out of the country. Meanwhile, medium- and large-sized companies reported similar business conditions in December 2022 compared to the previous month. 
10. The time-series charts for the BSI and its sub-indices since August 2020 can be found in ANNEX 1. For more information on the BSI, members of the public can refer to the technical notes on the methodology and statistics on the BDCB website at www.bdcb.gov.bn and follow updates on the BSI through future press releases and BDCB's Instagram account @centralbank.brunei.
Brunei Darussalam Central Bank Date: 3 Rejab 1444H / 25 January 2023M
Ref: BDCB/COMMS/3
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ANNEX 1 Business Conditions 
Note: For 1M Ahead Business Conditions, the result compares expected business conditions in the month ahead compared to the current month. For Business Conditions sub-index, above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month.
Investments 
Note: For 1M Ahead Investments, the result compares expected investment in the next month compared to the current month while the 3M Ahead Investment, the result compares expected investments 3 months ahead compared to the current month. For Investments sub-index, above 50 indicates increased investment compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates reduced investment compared to the previous month. Employment 
Note: For 1M Ahead Employment, the result compares expected employment in the next month compared to the current month. For Employment sub-index, above 50 indicates more new hires compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates reduction in employee headcount compared to the previous month. Costs 
Note: For 1M Ahead Costs, the result compares expected costs in the next month compared to the current month. For Costs sub-index, above 50 indicates an increase in costs and conversely for below 50. Index at 50 indicates costs were more or less the same in the current month compared to previous month. Sectoral BSI – August 2020 to December 2022 
Note: An index above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month. Sentiment by Business Size 
Note: An index above 50 indicates expansion / optimism compared to the previous month. Index at 50 indicates similar/no change compared to the previous month while below 50 indicates contraction / less optimism compared to the previous month.
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