Autoriti Monetari Brunei Darussalam, RTGS (RTS/X)

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Autoriti Monetari Brunei Darussalam, RTGS (RTS/X)

In November 2014 The Autoriti Monetari Brunei Darussalam (AMBD) and the Brunei Association of Banks (BAB) launched the Brunei Real-Time Gross Settlements System (RTGS) to fast-track the secure transfer of huge amount funds. 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 RTGS 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.

Status: The system went into live operation in November 2014 according to the project schedule.

 

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