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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Govt guarantees all Brunei $$ and foreign currency deposits

Posted on 22 October 2008

From Brudirect.com: With the consent of His Majesty the Sultan and Yang DiPertuan of Brunei Darussalam, the government through the Ministry of Finance will guarantee all Brunei dollars and foreign currency deposits of individual and non-bank customers in Islamic, conventional banks and finance companies, licensed and regulated by the Ministry of Finance.

The guarantee is with immediate effect and will be valid till December 31, 2010, the Ministry of Finance said in a statement yesterday amid global financial turmoil affecting the world’s economy today….. Full Article: Source


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