AUTORITI Monetari Brunei Darussalam (AMBD), with the collaboration of Employee’s Trust Fund (TAP), Brunei Association of Banks (BAB), and Brunei Insurance and Takaful Association (BITA), recently conducted a financial literacy programme for the students of the Youth Development Centre.
Over 25 students from different courses, including Kursus Belia Berpadi as well as the Entrepreneurship Course, participated in the two-day programme which ran from October 26-27.
The programme began with an introduction to AMBD, providing an insight on its role as the central bank of Brunei Darussalam.
The students also learnt about the functions of AMBD such as the licensing and regulating of financial institutions in the country; issuing and managing the country’s currencies as well as maintaining financial stability through the monetary policy.
A representative from AMBD’s Currency Management presented on the Currency Order, 2004, touching upon the dos and don’ts when handling Brunei Darussalam’s currency notes or coins.
Talks titled ‘Be Financially Smart’ and ‘Avoid Financial Scams’, were led by rep-resentatives of the AMBD’s Financial Consumer Issues Unit.
Institutions from the financial industry also participated in the programme to share about their respective financial products and services.
TAP explained the different schemes under their purview, including their retirement sch-emes such as TAP and Sup-plemental Contributory Pension (SCP) as well as the Housing Fund Scheme. From the insurance and Takaful industry, Takaful Brunei Keluarga Sdn Bhd and Insurans Islam TAIB Sdn Bhd talked about the importance of protecting oneself and loved ones through the Islamic practice of Takaful.
Participants of the programme posing for a group photo. – AMBD
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