Application Process

Applications to be a money remittance licensee can be submitted at any time of the year, subject to completing the Authority's pre-requirements.

Interested applicants can apply for the licence by first submitting an Expression of Interest highlighting the proposed business plan and other requirements set out in the Licensing Criteria.

Once the applicant has passed the EOI screening, a completed application form, along with necessary documentations is to be submitted to:

Supervision 3 (Money Services)
Regulatory and Supervision Department
Brunei Darussalam Central Bank
Level 7, Ministry of Finance and Economy Building
Commonwealth Drive
Bandar Seri Begawan BB3910

Applicants are required to pay a non-refundable fee of BND200.00 (Brunei Dollars Two Hundred only) regardless of the outcome of the application. Successful applicants will be required to pay an annual license fee as prescribed in the Money Changing and Remittance Businesses Act, Chapter 174.

Licensing Criteria

In considering any application for a licence, applicants must be able to satisfy the:

• a) general criteria;
• b) fit and proper criteria;
• c) minimum financial requirements; and
• d) organisational requirements as set out in the Licensing Criteria.

Relevant Fees and Security

Application Process

Applications to be a money-changing licensee will only be opened by the BDCB periodically and advertised in local newspapers, and/or via BDCB website and social media accounts. Interested applicants can apply for the licence once the applications are opened.

For hotels wishing to obtain a money-changing licence, a written application must be submitted to BDCB. Money-changing licenses for hotels are limited to the buying of foreign currencies and serving hotel guests only.

Applicants must submit a completed application form provided by BDCB along with an application fee (as specified by BDCB) to:

Supervision 3 (Money Services)
Regulatory and Supervision Department
Brunei Darussalam Central Bank
Level 7, Ministry of Finance and Economy Building
Commonwealth Drive
Bandar Seri Begawan BB3910

Licensing Criteria

In considering any application for a licence, BDCB may require to be satisfied as to:

• a) the good character of the applicant or, if the applicant is a company, the general character of the management of the company;
• b) the financial condition of the applicant; and
• c) whether public interest will be served by the granting of the licence.

Relevant Fees and Security

For further enquiries, please contact 2381370 or email infomcr[at]bdcb[dot]gov[dot]bn.