The Central Bank of Brunei Darussalam published its 2024 Annual Report and 2024 Financial Stability Report, summarising 2024 policy developments and providing its assessment of the financial system. The Financial Stability Report assessed the system as stable and resilient in 2024 with strong buffers and ample liquidity, with total financial system assets up 5.4% to BND25.2 billion and total loans and financing up 7.7%; the banking sector remained profitable and credit quality improved, reflected in a lower net non-performing loans/financing ratio. The Annual Report recorded 4.2% economic growth and a 0.4% decline in domestic inflation, supported by government subsidies and price controls and Brunei’s monetary policy framework under a currency board arrangement and the Currency Interchangeability Agreement with Singapore. Policy work in 2024 included measures to enhance bank liquidity risk management, strengthen customer due diligence and transparency, and improve the resilience and cybersecurity of critical financial institution systems, alongside extensive onsite and offsite inspections covering governance and internal controls, AML/CFT, Syariah compliance, and technology risk controls. Sector development and regional engagement activities included the inaugural Brunei Darussalam Islamic Finance Symposium, the launch of the Mekar FinTech Innovation Centre, new coin issuance, support for the launch of ASEAN Taxonomy Version 3 in the Central Bank’s capacity as Chair of the ASEAN Taxonomy Board, and signing the ASEAN memorandum of understanding on cooperation in regional payment connectivity; the Annual Report also includes audited financial statements for the year ended 31 December 2024.
Central Bank of Brunei Darussalam 2025-06-02
Central Bank of Brunei Darussalam releases 2024 Annual Report and Financial Stability Report with system assets rising to BND25.2 billion
The Central Bank of Brunei Darussalam's 2024 reports highlight a stable financial system with a 5.4% asset increase to BND25.2 billion and improved credit quality. Economic growth was 4.2% with a 0.4% inflation decline, supported by government measures. Key initiatives included enhancing bank liquidity risk management, customer due diligence, and cybersecurity, alongside regional activities like the Brunei Darussalam Islamic Finance Symposium and ASEAN Taxonomy Version 3 launch.