Fintech & payments regulation in Brunei (2026)
Fintech and digital payments in Brunei: licensing regime.
Brunei has an in-force, dedicated payments regime administered by the Brunei Darussalam Central Bank (BDCB). Companies operating payment systems or offering payment services/instruments must obtain BDCB approval under Notice No. PSO/N-1/2020/1 (issued under s.54(1) of the BDCB Order, 2010), with defined capital and security requirements, while money-remittance and money-changing businesses are separately licensed. Instant payments are live via the national 'tarus' system, but consumer-credit products like BNPL are not yet covered by a dedicated framework.
Legal framework
Brunei Darussalam Central Bank (BDCB) under the BDCB Order, 2010 (s.54(1)); Notice No. PSO/N-1/2020/1 on Requirements for Payment Systems; plus money services licensing and the National QR Code Standard notice.
Key points: digital payments & fintech in Brunei
Regulator & legal basis
BDCB undertakes approval, oversight and supervision of payment systems, payment service providers and payment instruments under s.54(1) of the BDCB Order, 2010, operationalised through Notice No. PSO/N-1/2020/1 on Requirements for Payment Systems.
Approval / licensing requirements
Operating a payment system without BDCB approval is unlawful and penalised. Payment system operators must have a place of business/registered office in Brunei, base capital of BND100,000, and lodge a bankers' guarantee of at least BND50,000 before commencing business.
Money services licensing
BDCB separately licenses, supervises and regulates money services businesses (money remittance and money changing) under its own licensing criteria, and publishes a public list of licensees.
Instant-payment rail (tarus / NPSS)
BDCB operates the National Payment and Settlement Systems (RTGS, ACH, CSD). 'tarus', Brunei's first instant-payment system, is run by National Digital Payments Network Sdn Bhd (ndpx) as a BDCB-Approved Payment System Operator, enabling instant inter-bank/e-wallet transfers (Phase 1 from Q4 2024).
QR-code standard & cross-border
BDCB issued a Notice on Adoption of a National QR Code Standard to govern QR payments, with cross-border QR interoperability (ASEAN QR) being pursued via the Digital Payment Hub.
FinTech sandbox; BNPL & open banking still developing
A FinTech Regulatory Sandbox has operated since 27 February 2017 for supervised testing. However, there is no dedicated in-force BNPL/consumer-credit framework (Brunei is described as still developing one), and open-banking-style access is emerging only through the Digital Payment Hub's single-connection model rather than a statutory open-banking regime.
Timeline of decisions
- Decisiontarus, Brunei's first national instant payment system, goes live
ndpx (National Digital Payments Network Sdn Bhd), an Approved Payment System Operator under BDCB, launched tarus, enabling real-time fund transfers 24/7 across banks and e-wallets using phone numbers as identifiers. Five platforms joined at launch; this marks the delivery of Phase 1 of the Digital Payment Hub and the country's first interoperable fast-payment rail.
tarus (ndpx — BDCB-approved operator)
- Guidance · officialBDCB mandates National QR Code Standard (tarusQR) for all payment service providers
BDCB issued Notice TRS/N-1/2025/1 requiring all payment service providers and payment system operators to adopt the national QR code standard managed by ndpx, ensuring full interoperability at merchant point-of-sale across banks and e-wallets. Non-compliant QR codes must be phased out.
Brunei Darussalam Central Bank (BDCB)
- Law · officialBrunei Darussalam Central Bank Order 2021 renames AMBD as BDCB
The Brunei Darussalam Central Bank Order 2021 came into force, replacing the Autoriti Monetari Brunei Darussalam (AMBD) with the Brunei Darussalam Central Bank (BDCB). The new order modernised the central bank's mandate, explicitly anchoring its oversight of payment systems and fintech under a unified central bank framework.
Attorney General's Chambers, Brunei Darussalam
- Guidance · officialAMBD launches Digital Payment Roadmap 2019-2025, 'Digital Payment Nation' strategy
AMBD formally released the Digital Payment Roadmap 2019-2025, articulating three strategic pillars: balancing regulation and innovation, building open digital payment infrastructure, and driving public adoption. The roadmap operationalised the Financial Sector Blueprint's fintech goals and set Brunei's trajectory toward a cashless economy by 2025.
Brunei Darussalam Central Bank (BDCB)
- Decision · officialCentral Securities Depository (CSD) and ACH Direct Credit system go live
In May 2017 AMBD implemented the CSD to automate settlement for Government Sukuk and other securities, while the Direct Credit module added to the ACH in March 2017 enabled bulk low-value electronic transfers. These completions rounded out Brunei's three-pillar National Payment and Settlement System (RTGS, ACH, CSD).
Brunei Darussalam Central Bank (BDCB) — 10 Years in Review
- Guidance · officialAMBD issues FinTech Regulatory Sandbox Guidelines; FinTech Unit formally established
AMBD published its FinTech Regulatory Sandbox Guidelines on 27 February 2017, creating a time-limited, relaxed-regulation test environment for fintech and financial institution innovators. Simultaneously, AMBD's dedicated FinTech Unit, set up in 2016, assumed formal responsibility for regulatory and development strategy, making Brunei one of the first ASEAN jurisdictions to establish both structures.
Autoriti Monetari Brunei Darussalam (AMBD) / BDCB FinTech Office
- Guidance · officialFinancial Sector Blueprint 2016-2025 published, fintech and digital payments made strategic priority
AMBD published the Financial Sector Blueprint 2016-2025 (FSBP), the overarching policy document aligning Brunei's financial sector with Vision 2035. The FSBP explicitly identified fintech enablement, digital payments infrastructure, and financial inclusion as strategic pillars, providing the mandate for all subsequent regulatory sandbox, roadmap, and payment infrastructure initiatives.
Autoriti Monetari Brunei Darussalam (AMBD)
- Law · officialPayment and Settlement Systems (Oversight) Act, Cap. 251 (S 36/2015) enacted
Brunei gazetted the Payment and Settlement Systems (Oversight) Act as Chapter 251 of the Laws of Brunei, giving AMBD (now BDCB) the statutory authority to approve, supervise, and oversee payment system operators and payment service providers. This remains the primary legislation under which all digital payment licences and approvals are granted.
Attorney General's Chambers, Brunei Darussalam
- Law · officialAutoriti Monetari Brunei Darussalam (AMBD) established as unified financial regulator
The Autoriti Monetari Brunei Darussalam Order 2010 came into force on 1 January 2011, consolidating monetary policy, currency issuance, and supervision of banks, insurance, and payment systems under one statutory authority. This replaced the fragmented Ministry of Finance oversight model and created the institutional foundation for all subsequent digital payments and fintech regulation.
Attorney General's Chambers, Brunei Darussalam
Sources
- bdcb.gov.bn/regulatory/payment-services
- bdcb.gov.bn/regulatory/payment-services/licensing-criteria
- bdcb.gov.bn/regulatory/money-services
- bdcb.gov.bn/regulatory/money-services/licensing-criteria
- bdcb.gov.bn/regulatory/list-of-bdcb-licensees
- bdcb.gov.bn/regulatory/regulations
- bdcb.gov.bn/monetary-policy/monetary-operations
- cms.bdcb.gov.bn/storage/uploads/regulatories/17417558761835440.pdf
- tarus.com.bn/
- bizbrunei.com/2024/10/simplifying-bruneis-upcoming-digital-payment-hub/
Next for Brunei: Digital Nomad & ResidencyNo pathway
Next topicOrientation, not legal advice: verify against the primary sources linked above. Last verified 25 May 2026. Methodology & how to cite · State of Technology Regulation 2026