Brunei Darussalam Central Bank (RTGS)
About
Brunei Darussalam, Bandar Seri Begawan
November 2014
The Autoriti Monetari Brunei Darussalam (renamed to Brunei Darussalam Central Bank in 2021) and the Brunei Association of Banks (BAB) launched the Brunei Real-Time Gross Settlements System (RTGS) to fast-track the secure transfer of large payments. The implementation of the RTGS is in line with AMBD Orders, 2010 and 2015, where AMBD was tasked to set up and monitor efficient payment systems.
The new RTGS system is fully compatible with ISO20022 and allows Brunei to benefit from ASEAN economic integration.
AMBD and local banks are also preparing to introduce a new Automated Clearing House (ACH) later. This will enable electronic instruments such as low-value inter-bank credit transfers, inter-bank payroll, and inter-bank direct debits to replace the current manual cheque processing system. The RTGS and ACH systems will support the growth of retail electronic payment in Brunei Darussalam.
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