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HM Sultan Brunei: Develop Expertise in Oil, Agri Fields

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Develop expertise in oil, agri fields, urges Sultan
on: July 11, 2017

| Lyna Mohamad |

ACHIEVERS in the country must devote their energies towards the accomplishment of greater success in fields that are essential to the country’s development.

This was stated in a titah delivered by His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam during the 14th Yayasan Sultan Haji Hassanal Bolkiah Hari Raya Aidilfitri celebrations at the Plenary Hall of the International Convention Centre (ICC) in Berakas yesterday.

“Among these primary fields are the oil and agriculture industries, which undoubtedly are the country’s lifeblood,” said His Majesty. “But do we have the expertise required for these fields?

“Our oil industry is nearly a century old, but the possibilities for locals to occupy top or senior positions have been most disappointing.

“This should be sufficient…

50th Anniversary Brunei-Singapore Currency Interchangeability Agreement

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Commemorative currency notes a big hit
on: July 08, 2017

| Hakim Hayat |

IT WAS worth braving the long queue for Salinah binti Haji Mohd Yusof at a bank in the capital yesterday as she managed to obtain two of the brand new $50 notes, released by Brunei and Singapore to mark the golden jubilee of the Currency Interchangeability Agreement between them.

“The last time we had a commemorative note was a decade ago when Brunei and Singapore celebrated 40 years of the agreement,” said an elated Salinah, a government servant.

People in large numbers yesterday queued up at retail banks in the country to get their hands on the new $50 Brunei and Singapore commemorative notes that were launched three days ago in Singapore.

The new polymer $50 notes began circulation through banks effective yesterday.

Most retail banks in Brunei reported high demand for the notes, which the public can exchange at face value for both the $50 notes issued by Autoriti Monetari Brunei Darussalam (AMBD) and Monetary…

50th Anniversary Brunei-Singapore Currency Interchangeability Agreement

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Hundreds queue up for commemorative notes
on: July 07, 2017

| Hakim Hayat |

HUNDREDS queued up to get their hands on the commemorative $50 notes launched Wednesday by Brunei Darussalam and Singapore to mark the 50th anniversary of the Currency Interchangeability Agreement between both countries.

The limited edition $50 polymer notes, jointly issued by Autoriti Monetari Brunei Darussalam (AMBD) and Monetary Authority of Singapore (MAS), has since Wednesday been made available at the AMBD Currency Gallery and Gift Shop at the Ministry of Finance Building in Commonwealth Drive.

Testament to its popularity, avid collectors and the public at large were seen making a beeline at the AMBD Currency Gallery since AMBD started selling the numismatic sets, with many expressing their delight with the issuance of the notes.

“As a money collector, I was ecstatic when I first heard the news about the limited edition notes. I made my way here early this morning to get my hands on it. This is very sp…

50th Anniversary Brunei-Singapore Currency Interchangeability Agreement

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Limited edition commemorative notes released for sale
on: July 06, 2017

| James Kon |

MEMBERS of the public can now get their hands on the limited edition $50 polymer note that commemorates the 50th anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and Singapore, which was launched by His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam and Singapore Prime Minister Lee Hsien Loong yesterday.

The special note, carrying the ‘Flourishing Growth’ theme, is issued by both Autoriti Monetari Brunei Darussalam (AMBD) and Monetary Authority of Singapore (MAS).

In marking the occasion, AMBD is making available five types of numismatic sets.

The Identical Numbered Notes set contains one $50 Brunei commemorative note and one $50 Singapore commemorative note sharing the same serial number with the CIA prefix. It is priced at $300, with…

50th Anniversary Brunei-Singapore Currency Interchangeability Agreement

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New $50 commemorative notes launched
on: July 06, 2017

HIS Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam and Lee Hsien Loong, Prime Minister of Singapore jointly launched the new $50 commemorative notes issued by the two countries in a ceremony held yesterday at the Istana, Singapore, to mark the 50th anniversary of the Currency Interchangeability Agreement between Brunei Darussalam and Singapore.

The Currency Interchangeability Agreement took effect on June 12, 1967 between the two countries to facilitate improved economic and trade relations between the parties, and is a key economic cooperation between them.

It was signed by the then Chairman of the Brunei Currency Board (now known as Autoriti Monetari Brunei Darussalam or AMBD) and the Chairman of the Board of Commissioners Currency, Singapore (which merged with the Monetary Authority of Singapore al…

Brunei Tier 2 Status in 2017 US TIP Report

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Brunei keeps Tier 2 status in US TIP Report
on: July 05, 2017

| Azlan Othman |

BRUNEI Darussalam has maintained its Tier 2 status in the 2017 United States Trafficking in Persons (TIP) Report, released by the US State Department recently.

The annual report assessed 187 countries on their efforts to combat human trafficking through three key components, namely prosecution, protection and prevention.

Tier 2 was accorded to the governments of countries that do not fully meet the Trafficking Victims Protection Act minimum standards but are making significant efforts to bring themselves into compliance with those standards.

The Sultanate has been retaining the same status since 2012.

“The Government of Brunei Darussalam does not fully meet the minimum standards for the elimination of trafficking; however, it is making significant efforts to do so. The government demonstrated increasing efforts compared to the previous reporting period; therefore, Brunei remained on Tier 2,” the report sai…

World Bank: Comprehensive Reform Agenda in Brunei

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WB sees comprehensive reform agenda in Brunei
on: July 02, 2017

| Danial Norjidi |

THE structure is in place and there is good coordination between agencies for Brunei Darussalam to keep implementing a comprehensive set of reforms, according to two top officials from the World Bank Group.

Antoni Albert Nogues Comas and Nadia Novik recently concluded a nine-day visit to Brunei Darussalam, during which they met with various government agencies and private sector companies to assess and verify the reforms being implemented by the Brunei government to improve the business environment.

They have been collecting information pertaining to the ease of doing business in the country, in line with the group’s Doing Business Report, which measures the efficiency and strength of business regulations in 190 economies worldwide.

The World Bank’s Doing Business Index is one of the benchmarks used by Brunei Darussalam to gauge the progress of ongoing efforts to improve the business environment. Brun…

HM Sultan Brunei: Lasting Peace and Stability is Paramount

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Lasting peace and stability is paramount: His Majesty
on: June 26, 2017

| Lyna Mohamad |

THE people of Brunei should consider themselves blessed to have lasting peace and stability, said His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam.

“We constantly see or hear about war and chaos happening everywhere in the world,” said His Majesty, while delivering his titah to mark the celebrations for Hari Raya Aidilfitri 1438 Hijrah, which begins today for Brunei Darussalam.

His Majesty further noted, “This is an indication that our world is currently experiencing turbulent or chaotic times, which are disrupting peace and order. It is hard to predict when these troubled times will end.

“However, our main duty is to ensure that our country remains stable and safe from all forms of destructive elements. At the same time, we will not allow any negative elements to…

Permanent Secretaries and Deputies in Brunei (25 May 2017)

International Monetary Fund Report on Brunei 2017

IMF issued Press Release 17/185 regarding Brunei as follows:


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IMF Executive Board Concludes 2017 Article IV Consultation with Brunei Darussalam May 19, 2017 On April 25, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Brunei Darussalam and considered and endorsed the staff appraisal without a meeting on a lapse-of-time basis. [2] Building on a track record of policy reforms, Brunei Darussalam’s economy is adjusting to lower oil and gas (O&G) prices. While the country possesses sizable buffers, the authorities have continued structural reforms aimed towards ensuring long-term sustainability and intergenerational equity, increasing productivity and competitiveness, and diversifying the sources of growth. Latest estimates showed that real GDP in 2016 further declined by 2.5 percent, contracting by less than projected. Unscheduled shutdowns were the main factor that disrupted O&G production. Meanwhile, the decli…