BANDAR SERI BEGAWAN (Xinhua): Brunei's financial sector grew by 2.9 per cent year-on-year, with total assets amounting to 24.6 billion Brunei dollars (US$18.3 billion) in the first quarter of 2024, according to a statement from the Brunei Darussalam Central Bank (BDCB) to the media.
The financial sector of Brunei comprises both Islamic and conventional financial institutions. In the first quarter of 2024, the Islamic finance sector's assets amounted to 14.5 billion Brunei dollars (US$10.8 billion), while the conventional sector held 10.1 billion Brunei dollars (US$7.5 billion) in assets, according to the BDCB.
The statement said that the deposit-taking institutions made up 91.7 per cent of the sector, with an asset base of 22.5 billion Brunei dollars (US$16.7 billion).
The BDCB will continue to assess and ensure the appropriateness of the overall regulatory and supervisory frameworks to foster development within the financial system while maintaining financial stability. - XInhua
