The opportunities that FinTech could offer to advance green finance is tremendous where it could help to address the pain points in developing green finance such as large information gathering and requirement of real-time data, and complex risk assessment. The Deputy Minister of Finance and Economy highlighted the matter in his keynote address during A Conversation on Accelerating Fintech and Green Finance in Brunei.
The forum was organised by the ASEAN and APEC Business Councils of Brunei Darussalam in collaboration with the Ministry of Finance and Economy and the British High Commission in partnership with Baiduri Bank. It was held yesterday morning at the Design and Technology Building in Anggerek Desa. In his keynote, Dato Seri Paduka Awang Haji Khairuddin bin Haji Abdul Hamid also touched on the importance of green finance and its links with Islamic Finance as well as the importance of the development of a sustainable financial sector which can channel funds into green initiatives and cited Electric vehicle financing as an example.
The forum also heard from His Excellency Mark Garnier M.P, the British Prime Minister's Trade Envoy to Brunei Darussalam who shared the United Kingdom's approach to fintech and the regulatory practices put in place and how universities have worked towards supporting fintech. Meanwhile, the panel discussion explored the regulatory framework and practical steps of growing the fintech sector in Brunei as well as what to expect with regards to green finance. The panel noted that green finance plays a pivotal role in helping Brunei achieve its COP26 commitments and net-zero ambitions.
Source: Radio Television Brunei