Signing for the Participant Service Agreement Between Autoriti Monetari Brunei Darussalam and Bank Usahawan

Transcription

1. PRESS RELEASE SIGNING FOR THE PARTICIPANT SERVICE AGREEMENT BETWEEN AUTORITI MONETARI BRUNEI DARUSSALAM AND BANK USAHAWAN 1 . Autoriti Monetari Brunei Darussalam (AMBD) recently signed a Participant Service Agreement on the collaboration of credit information exchange with Bank Usahawan. Bank Usahawan is a company incorporated in Brunei Darussalam that aims to support the Micro, Small and Medium Enterprises (MSMEs) in Brunei by offering financing facilities in compliance with the Syariah concept, and to facilitate the MSMEs’ access to financial services. 2. Signing for AMBD was Yang Mulia Awang Yusof bin Haji Abd Rahman, Managing Director while Bank Usahawan was represented by Mr. Udo Schedel, Chief Executive Officer. Witnessing the signing ceremony were Yang Mulia Awang Mohammed Roaizan bin Haji Johari, Assistant Executive Director (Credit Bureau) of AMBD and Mr. Ahmad Alani, Senior Duties Officer of Bank Usahawan. 3. The Participant Service Agreement provides the provision for the Bank Usahawan to submit credit information of MSMEs that have obtained financing from Bank Usahawan to the Credit Bureau of AMBD. In turn, the Agreement also enables the Bank Usahawan to obtain credit reports provided by the Credit Bureau, which will be used specifically to assist the Bank Usahawan in assessing the creditworthiness of the MSMEs applicants. The underlying objective of this collaboration is to provide the Bank Usahawan with a better assessment tool in determining the suitability or appropriateness of the type of financing that will be extended to the MSMEs, considering their capability and capacity to commit to the financing. 4. To date, the data providers of the Credit Bureau consist of all the licensed banks, finance companies and the Islamic Trust Fund in Brunei Darussalam. The Credit Bureau also receives data regarding outstanding bills from telecom and utility service providers in Brunei Darussalam, namely DST Communications Sendirian Berhad, Telekom Brunei Berhad, Progresif Cellular Sendirian Berhad, and the Department of Electrical Services. The Credit Bureau has recently signed a similar agreement with the Housing Development Department (HDD) of the Ministry of Development, to provide holistic information on the financial standing of the National Housing Scheme applicants.
2. 5 . For further information on the Credit Bureau of AMBD, http://www.ambd.gov.bn/birokredit or email birokredit@ambd.gov.bn. Autoriti Monetari Brunei Darussalam Date: 15 Rejab 1438 / 2 April 2018 Reference: AMBD/COMMS/3 please visit