International Banking Order, 2000 · As enacted
3. 11)
Official textFrom Attorney General's Chambers, unchanged
Subject to Part VI no person shall provide, carry on, or purport to carry on, in or from within Brunei Darussalam, whether or not such business is carried on, or purports to be carried on, within or outside Brunei Darussalam, international banking business unless
banking business
"banking business", in relation to an institution, includes the taking of deposits from the public in the form of current or savings accounts and the granting of credits, and without limitation includes the issue of credit cards, money collections and transmissions, foreign exchange transactions, the issue of guarantees, trade finance, development finance and sectoral credits, consumer credit, investment banking and Islamic banking business, broking and risk management services whether such business is in any case conducted by conventional practices or using Internet or other electronic technology and includes electronic banking; 1043 29th. JUNE, 2000
(a}
he holds for the time being a valid licence granted by the Authority under this Order authorising him to carry on such business; or
Terms defined in s 2
banking business
Defined · s 2"banking business", in relation to an institution, includes the taking of deposits from the public in the form of current or savings accounts and the granting of credits, and without limitation includes the issue of credit cards, money collections and transmissions, foreign exchange transactions, the issue of guarantees, trade finance, development finance and sectoral credits, consumer credit, investment banking and Islamic banking business, broking and risk management services whether such business is in any case conducted by conventional practices or using Internet or other electronic technology and includes electronic banking; 1043 29th. JUNE, 2000
the Authority
Defined · s 2"the Authority" means such person or body as is appointed by His Majesty the Sultan and Yang Di-Pertuan to be the Authority for the purposes of this Order;