The global financial industry continues to face innovative developments including the development of Financial Technology, FinTech. Thus, Authority Monetary Brunei Darussalam, AMBD has undertaken several initiatives to encourage the growth of FinTech companies in Brunei Darussalam, and at the same time, ensuring the stability of Brunei Darussalam's financial industry.
This was highlighted by Managing Director of AMBD during the launch of AMBD's FinTech Sandbox or a virtual facilitation office, yesterday. Awang Yusof bin Haji Abdul Rahman also said that AMBD has pushed forward the development of FinTech in the country. Being mindful that innovation is neither constant nor static, AMBD will continue to engage with and assist relevant stakeholders in ensuring the financial industry remain relevant.
The launch of AMBD FinTech Office will enable all information including enquiries; concerning FinTech in the country can be directed. The FinTech Regulatory Sandbox Guidelines was also launched during the event. The guideline will allow FinTech companies to test their financial products or solutions in a safe and efficient manner, while receiving regulatory support from AMBD.