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The Ministry of Finance and Economic system (MoFE) has by no means collaborated with different events to supply cash lending providers, it stated in a joint assertion with the Brunei Darussalam Central Financial institution (BDCB) yesterday.
The assertion got here in gentle of cash lending providers being marketed via social media functions akin to Fb and Telegram, and utilizing the MoFE’s brand.
The ministry has obtained complaints from the general public concerning the matter.
The general public is suggested to be extra cautious, to not simply belief such affords and to not make any transactions with out making certain the authenticity of the knowledge first.
The unauthorised use of the emblem of any authorities company is a critical matter. The act of dishonest by impersonation is punishable underneath Part 419 of the Penal Code, Chapter 22 and carries a penalty of imprisonment for a time period not exceeding seven years and advantageous, upon conviction.
As well as, disseminating false info that may possible trigger public alarm is a felony offence underneath Part 34 of the Public Order Act, Chapter 148, carrying a penalty of a BND3,000 advantageous and three years’ imprisonment.
The BDCB additionally reminded that any individuals wishing to hold out the enterprise of cash lending are required to be licensed underneath the Moneylenders Act, Chapter 62. It’s an offence underneath Part 8(1) of the Moneylenders Act for any particular person to conduct enterprise as a moneylender and not using a license, punishable upon conviction with a advantageous of BND500 and imprisonment for 18 months. BDCB will take motion towards unlicensed moneylenders.
Ought to members of the general public come throughout or suspect people or entities providing unlicensed cash lending providers, they’ll contact the BDCB Monetary Client Points at 8380007 or e mail fci@bdcb.gov.bn.
The general public can lodge a report back to the Royal Brunei Police Drive in the event that they fall sufferer to such unlawful practices.
Go to www.bdcb.gov.bn for the checklist of monetary establishments licensed by BDCB, in addition to the BDCB Alert Checklist. – James Kon
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