Brunei stock exchange prepares for launch
BANDAR SERI BEGAWAN, Brunei (MNTV) — The feasibility study for the Brunei Stock Exchange has been completed, and the implementation phase is set to begin this month, The Scoop reports.
The government will establish a securities exchange, clearing house, and central securities depository, marking a significant milestone in Brunei’s financial development, the Second Minister of Finance and Economy Amin Liew Abdullah said during a meeting of the Legislative Council.
Preparations are already underway for the launch of the stock exchange, which includes refining the organisational structure, establishing Syariah governance and sukuk listings, and setting out procedures for companies to apply for licences to operate within the exchange.
In 2020, the government allocated $414 million to establish the stock exchange, with funds distributed over several years to support infrastructure, technology, and socio-economic studies related to its implementation.
The feasibility study focused on formulating a detailed plan for building the market ecosystem, regulatory reforms, Syariah governance, cost-benefit analysis, and revenue projections.
A market outreach plan was also devised to engage key stakeholders, including regulators, market participants, potential issuers, and investors; with the objective of ensuring broad participation and support for the exchange.
Amin said the establishment of the stock exchange would create new jobs and investment opportunities, and hopefully cultivate “a more resilient and diversified economy”.
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