A Conversation on Accelerating Fintech and Green Finance in Brunei
An opportunity to discuss Brunei's Fintech and Green Finance sector and to learn about the UK’s innovative financial services ecosystem.
About the Event
The Brunei Economy Programme is delighted to present this ‘Conversation on Accelerating Fintech and Green Finance in Brunei’. The discussion will bring together key players in the Brunei finance industry and be an opportunity to hear about the UK’s leadership in Fintech and Green Finance from Mark Garnier MP, the Prime Minister’s Trade Envoy to Brunei, Myanmar and Thailand. The event is hosted by the ASEAN and APEC Business Advisory Councils of Brunei in collaboration with the Ministry of Finance and Economy with the support of the British High Commission in Brunei.
The growth of Fintech in the region has been accelerated by the Covid-19 pandemic as physical distance constraints have forced the greater adoption and use of the internet and digital tools. According to a report by Facebook and Bain & Co, since the start of the pandemic, over 70 million people— equivalent to the entire population of the United Kingdom—have become digital consumers in Southeast Asia.
The ASEAN+3 Macroeconomic Research Office (AMRO) noted that Brunei Darussalam has identified fintech as a key driver in increasing the contribution of the country’s financial sector to 8 percent of GDP by 2035 from 5.6 percent in 2020. AMRO’s Annual Consultation Report on Brunei Darussalam points out that Brunei’s fintech ecosystem has seen remarkable progress over the past several years. This is mainly on account of supportive government initiatives toward expanding the digital economy, as well as the rising demand for digital financial services in the country, boosted by the surge in digital transactions amid the pandemic.
Green Finance plays a pivotal role in helping Brunei achieve its COP26 commitments and net-zero ambitions. In the region, the ASEAN Taxonomy for Sustainable Finance has been developed to serve as a common building block that enables an orderly transition and fosters sustainable finance adoption by the ASEAN Member States.
The event will be held on: August 11, 2022.