THE Autoriti Monetari Brunei Darussalam (AMBD) is set to launch the Collateral Registry System this Monday .
The Collateral Registry System will allow the collateralising of the public’s assets (especially those of SMEs) to facilitate their access to loans and capital for their business. The system will also merge the registration of Bill of Sale, company charges, motor vehicles, certain types of ships and aircraft from the government department into a single registry managed by AMBD.
AMBD, through the Collateral Registry Section, has been actively conducting training to the users of the system, such as the financial institutions, with the help of the appointed vendor, IOS Partners. This system is designed to be simple, user friendly, modern and accessible 24/7. Attendees to the training session will also be equipped to further train members of their respective institution to use the system.
Through the week, AMBD had invited several relevant government agencies and statutory bodies to undergo the Collateral Registry System user training to familiarise themselves with the system.
Brunei Darussalam is among the first few Asean member countries to introduce a Collateral Registry System, which will improve the ease of getting credit in the country.
This initiative is part of a series of reform measures which will improve Brunei Darussalam’s position in the World Bank Ease of Doing Business (EODB) Ranking, supported by the PENGGERAK, Prime Minister’s Office, and the EODB Steering Committee.
For further information on the Collateral Registry System, the general public can download the ‘AMBD App’ for free on both the App Store for iPhone users and Google Playstore for Android users. Alternatively, they may visit AMBD’s website at http://www.ambd.gov.bn or e-mail collateral.registry@ambd.gov.bn.
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