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BANDAR SERI BEGAWAN, Dec. 10 (Xinhua) To ensure future systemic risks can be promptly addressed, financial technology (FinTech) developments should be diligently monitored, senior government officials of Brunei said.
The World FinTech Festival in Brunei Darussalam is held here from Dec. 7 to Dec. 11, which is jointly organized by Brunei s Centre for Islamic Banking, Finance and Management and Monetary Authority of Singapore in partnership with the Singapore FinTech Festival, with the support from the Autoriti Monetari Brunei Darussalam (AMBD), the country s central bank.
Haji Awang Abu Bakar, Brunei s Minister of Home Affairs and Deputy Chairman of AMBD s Board of Directors, said that AMBD has always been a proponent for FinTech development in Brunei and has embarked on a number of initiatives to nurture growth in this field.
How New P2P Regulations Make the Industry Safer for Investors in Southeast Asia
December 10, 2020 @ 1:50 pm By Milena Naitoh
Digital lending platforms have made strong inroads in Southeast Asia over the past few years. In 2016 alone, peer-to-peer (P2P) business lending generated US$115.01 million more than half of Southeast Asia’s total alternative financing market that year.
This growth can be attributed to a combination of two factors:
A high mobile penetration rate of 133%, with some people having two phones (or SIM cards) or more
A massive funding gap, where micro, small, and medium-sized enterprises (MSMEs) have unmet financing needs amounting to US$300 billion, despite the fact that small businesses account for 40% of Southeast Asia’s gross domestic product (GDP) and 70% of the region’s workforce, according to a Deloitte report
Brunei to develop FinTech with diligent monitoring: senior officials - Xinhua xinhuanet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from xinhuanet.com Daily Mail and Mail on Sunday newspapers.
2020-12-10 08:36:22 GMT2020-12-10 16:36:22(Beijing Time) Xinhua English
BANDAR SERI BEGAWAN, Dec. 10 (Xinhua) To ensure future systemic risks can be promptly addressed, financial technology (FinTech) developments should be diligently monitored, senior government officials of Brunei said.
The World FinTech Festival in Brunei Darussalam is held here from Dec. 7 to Dec. 11, which is jointly organized by Brunei s Centre for Islamic Banking, Finance and Management and Monetary Authority of Singapore in partnership with the Singapore FinTech Festival, with the support from the Autoriti Monetari Brunei Darussalam (AMBD), the country s central bank.
Haji Awang Abu Bakar, Brunei s Minister of Home Affairs and Deputy Chairman of AMBD s Board of Directors, said that AMBD has always been a proponent for FinTech development in Brunei and has embarked on a number of initiatives to nurture growth in this field.