The Brunei Darussalam Central Bank (BDCB; ms, Bank Pusat Brunei Darussalam), formerly known as Monetary Authority of Brunei Darussalam (, AMBD) is the
central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a central b ...
of
Brunei
Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely surrounded by t ...
. It was established under the Monetari Brunei Darussalam Order, 2010, and began operations on January 1, 2011. It succeeded the Brunei Currency and Monetary Board.
History
The Brunei Currency Board was established on June 12, 1967, and the introduction of the
Brunei Dollar as the new currency of Brunei in replacing the
Malaya and British Borneo dollar
The Malaya and British Borneo dollar ( ms, ringgit; ms, رڠڬيت, label=Jawi alphabet, Jawi, script=arab, italic=unset) was the currency of Federation of Malaya, Malaya, Singapore, Crown Colony of Sarawak, Sarawak, Crown Colony of North Bor ...
after the Currency Union Agreement between
Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
,
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...
and Brunei was terminated and all three countries issued their own currencies which continued to be interchangeable until May 8, 1973, when Malaysia terminated the agreement with Singapore and Brunei.
The Currency Interchangeability Agreement between Singapore and Brunei is still existent. On 27 June 2007, Singapore and Brunei celebrated the 40th anniversary of the Currency Interchangeability Agreement (since 12 June 1967) with the joint-issue of the commemorative $20 notes.
The Brunei Currency Board was dissolved and rechartered under the new name the Brunei Currency and Monetary Board pursuant to Section 3-1 of the Currency and Monetary Order of 2004 on February 1, 2004.
It was then succeeded by the Monetary Authority of Brunei Darussalam ( Monetari Brunei Darussalam) in 2011.
By command of His Majesty Sultan Haji Hassanal Bolkiah, the Monetary Authority of Brunei Darussalam has been renamed to the Brunei Darussalam Central Bank (BDCB) on 26 June 2021.
Organisation
The chairman is Dato Seri Paduka Awang Haji Khairuddin bin Haji Abdul Hamid, The deputy chairman is Yang Mulia
Pengiran Datin Seri Paduka Hajah Zety Sufina binti Pengiran Dato Paduka Haji Sani .
[ ]
See also
*
Ministry of Finance and Economy (Brunei)
The Ministry of Finance and Economy (MoFE; ) is a cabinet-level ministry in the government of Brunei which is responsible for the monetary, fiscal and economic policies and development in the country. It was established immediately upon Brunei ...
References
External links
*
{{Coord, 4.9226, N, 114.9516, E, source:wikidata, display=title
Government of Brunei
Economy of Brunei
Brunei
Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely surrounded by t ...
Banks of Brunei
2004 establishments in Brunei
Banks established in 2011
Government agencies of Brunei