A comprehensive set of legislation to cover the financial activities was enacted from 2000 to 2002, including for Islamic banking and finance, a niche area that is now attracting growing interest from investors.  The regulatory framework provides a conducive environment for regional and international financial businesses, for corporate and private clients. As Brunei Darussalam is a relatively new jurisdiction, the legislation is right-up-to-date and was carefully crafted to permit flexible and cost effective activities. BIFC continues to keep the legislation under constant review and make amendments when necessary, in order to reflect current practices thus ensuring that stringent international standards are met. Since Day 1 of the establishment of BIFC, the legislation include laws directed at the prevention of money laundering and other financial crimes. As such, BIFC provides a safe ground for international market players to conduct their businesses.

A tax-free jurisdiction where there is no tax imposed on players or products,  BIFC offers a range of attractions for institutions that are looking for an alternative regime to domicile and re-domicile their activities. Brunei Darussalam’s political stability, modern and advanced physical infrastructures, strong and comprehensive legislation, convenient time zone, tax free facilities and low costs of business operations are persuasive factors for potential market players and service providers to locate their regional and global base in this country. With the entire vast Asian emerging market in the convenient time zone, Brunei Darussalam indeed, can be the answer and be the preferred financial hub.