Definition of Data

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Main Focus of Document

Provides a roadmap for the development and transition towards a digital payment ecosystem

Target Beneficiaries or Sector

Government Agencies, Financial Institutions, Telecommunication Services Providers, Businesses and Consumers

Key Elements

2025 (Brunei Darussalam Financial Sector Blueprint or FSBP) serves as a guide to the development of Brunei Darussalam’s financial services industry. The FSBP sets out the strategic framework within which Autoriti Monetari Brunei Darussalam (AMBD) and other stakeholders are working to promote a dynamic and diversified economy, in line with the national vision defined in Wawasan Brunei 2035.

The Roadmap elaborates on the FSBP digital payment plans, identifying the initiatives that AMBD and the industry will carry out.

AMBD’s primary objective over this time horizon is to embrace digital transformation to the payments market in Brunei Darussalam, leading to the creation of a digital payment ecosystem involving both users and Payment Service Providers (PSPs), which may be both banks and non-banks. This means migrating traditional payment behaviour and processes to innovative digital channels. There will be collaboration among industry players on shared infrastructure, and increased competition on innovative digital products, empowering customers with a wider choice of payment methods and a richer customer experience. The stakeholders include Government Agencies, Financial Institutions, Telecommunication Services Providers, Businesses and Consumers as well.

The Roadmap sets out key strategic areas for developing the digital payment ecosystem. It outlines AMBD’s responsibilities to enhance the regulatory framework and engage with the industry to develop an open market infrastructure and agree on common standards to provide an interoperable, flexible and efficient business environment. The Roadmap also emphasises the importance of promoting digital payments, enhancing public understanding of the benefits and building trust in these services. 

Policy/Regulation Mirrors

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