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Background

The government of Brunei Darussalam has maintained a continuous program of Sukuk issuance since 2006, with the objectives of developing Brunei's yield curve as a benchmark for corporate Sukuk, providing a liquidity tool for financial institutions operating in the country and supporting the development of the domestic capital market and Islamic finance infrastructure.

 

The Brunei Government Sukuk program has been managed by the Brunei Darussalam Central Bank, taking full control and ownership of the Sukuk issuance process. However, in light of the development plans laid out for the country and considering the importance and benefits of having a central office to manage the Sukuk issuances, Brunei established a Financing Office under the Ministry of Finance and Economy with the objective of centralising the Sukuk issuance operations.


Financing Office

The Financing Office is created as an administrative office, giving it the power and authority to issue Securities on behalf of the government and regulating its operations. 


Objective

The Financing Office has been set up with the  following objectives:

  • Facilitating a Syariah compliant funding method to fund the projects scheduled in the government's economic development plan;
  • Coordinating and supporting the Government's fiscal and monetary policy;
  • Coordinating and integrating the operations and functions required for Securities issuance, ensuring efficiency and accountability;
  • Facilitating the development of the Brunei Darussalam capital market;
  • Providing benchmarks for the pricing of local corporate issuance.

Vision

Becoming an instrumental catalyst in achieving the government's targets of economic growth, development and diversification.


Mission

Effectively administering the government securities program by raising the required funds to support the economic development.