Licensing Criteria

The Notice No. PSO/N-1/2020/1 on Requirements for Payment Systems issued under Section 54(1) of the BDCB, 2010 requires any company to seek approval from BDCB to operate payment systems in Brunei Darussalam to offer payment services or products. Companies operating a payment system that is not approved by BDCB will be in breach of the law and may be subjected to penalties.

Examples of payment services or products include:

  • Account issuing services
  • E-money issuing services
  • Merchant acquiring services
Application Process
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Preliminary meeting with BDCB.

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Submission of completed application form with supporting documents. Assessment of application by BDCB.

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Approval of registration and commencemen of operations – Successful applicants are issued an approval letter by BDCB containin the conditions of registration.

Criteria for Approval:
  • The applicant must be a company incorporated or registered under the Companies Act, Chapter 39;
  • The applicant must satisfy BDCB that its directors, chief executive officer, shareholders, employees as well as the applicant itself are fit and proper;
  • The applicant must satisfy BDCB of its track record and financial standing, where applicable;
  • The applicant must have a permanent place of business or registered office located in Brunei Darussalam; and
  • The applicant must have a base capital of BND100,000.
General Requirements
  • An Operator must keep, or cause to be kept, at its permanent place of business or registered office, books of the transactions in relation to any service it provides.
  • An Operator must appoint at least one person to be present at its permanent place of business or registered office to address any queries or complaints from its customers.
  • In addition to the financial requirements an Operator must maintain a sufficient capital buffer in excess of the base capital, subject to the scale and scope of its operations and the potential for profit and losses.
  • An Operator must maintain security with BDCB, in the form of a bankers guarantee, at an amount not less than BND50,000 prior to the commencement of its business. This security may be enforced by BDCB for the purposes of payment of any sums outstanding and claimed by the customers of the Operator.
  • An Operator must have the following in place –
    • plans which ensure regulatory compliance that are commensurate with the nature, scale and complexity of its business;
    • plans for the conduct of an annual audit of its accounts and transactions, including its compliance with the relevant requirements in Notice No. PSO/N-1/2020/1 and other relevant laws, to be carried out at its own expense.

For more information, please refer to: Notice No. PSO/N-1/2020/1.

All completed applications and the necessary documentation should be submitted to:


Supervision 3
Brunei Darussalam Central Bank,
Level 14 Ministry of Finance and Economy Building
Commonwealth Drive
Bandar Seri Begawan, BB3910
Brunei Darussalam