Date	Developments
November 2007	Draft RULES ON CUSTOMER DUE DILIGENCE FOR FINANCIAL INSTITUTIONS AND NON BANK FINANCIAL INSTITUTIONS were circulated to all the financial institutions in Brunei Darussalam for comments.   The rules provide general guidance on customer identification and due diligence procedures also known as “know your customer” (KYC) rules which are part of an effective AML/CFT regime.
17 September 2007	Banking Notice 1/2007 was issued to the foreign banks in Brunei Darussalam.
4 March 2006	The Ministry of Finance introduced several legislation namely:-   1.      Hire-Purchase Order, 2006 2.      Finance Companies Act (Amendment) Order, 2006 3.      Banking Order, 2006 4.      Insurance Order, 2006 and Insurance Regulations, 2006
2 November 2005	The Bancassurance guideline was issued and allowed for banks to transact bancassurance / bancatakaful business.
1 August 2005	The amended Pawnbrokers Order, 2002 was introduced.
16 May 2005	The Ministry of Finance issued a directive to the Brunei Association of Banks (BAB) and TAIB which was effective on 16 May 2005 which encompassed the following issues - (i)   Personal Loans Capping; (ii)  Prime Lending Rate; and  (iii) Credit Card.