Universiti Teknologi Brunei (UTB) and the Brunei Darussalam Central Bank (BDCB) inked a Memorandum of Understanding to drive Innovation in Financial Technology, Research, and Capacity Building. The ceremony was held in the Main Conference room of the university.
The event commenced with the recitation of Surah Al-Fatihah followed by a welcoming remark by Yang Mulia Dr Mohamad Saiful bin Hj Omar, Acting Vice-Chancellor of UTB. Yang Mulia Hajah Noorrafidah binti Sulaiman, the Deputy Managing Director (Monetary Operation/Development and International), BDCB delivered her remark.
The event proceeded with the signing session. Representing the university, was the Acting Vice-Chancellor, with the Mr Lim Chui Hua, Registrar and Secretary as a witness. BDCB was represented by the Deputy Managing Director (Monetary Operation/Development and International) and witnessed by Dk Sri Joedianna Binti Pg Hj Mohammed, Executive Director, Strategy Communications and Financial Literacy.
This strategic partnership represents a comprehensive framework for collaboration that will leverage the unique strengths and expertise of both UTB and BDCB. The memorandum establishes a robust platform for mutual engagement, focusing on creating synergies between academic research and financial sector expertise.
The partnership encompasses a wide range of collaborative initiatives, including joint research projects that will explore innovative solutions in financial technology and economic development. Both institutions have committed to organising collaborative events, symposiums, and workshops that will provide valuable insights and knowledge-sharing opportunities for professionals and academics alike.
Publication development stands as another critical aspect of the partnership, with plans to produce joint academic and professional publications that will contribute to the broader understanding of financial and technological landscapes. The MoU also emphasises capacity building, creating professional development programs that will enhance skills and knowledge for both institutional members and broader professional communities.
Information and data exchange emerges as a key component of the collaboration, enabling both UTB and BDCB to share critical insights, research findings, and innovative approaches. This exchange promises to generate meaningful research and support the development of cutting-edge solutions in financial and technological domains.
Additionally, BDCB has recently awarded UTB the Financial Inclusion Demand-Side Survey, which aimed to quantify the extent and quality of financial inclusion, establish comparative insights with previous surveys conducted in 2020, and identify barriers as well as provide recommendations to address existing gaps in pursuit greater financial inclusion in Brunei Darussalam.
By formalising this partnership, UTB and BDCB demonstrate a forward-thinking approach to institutional cooperation. The MoU reflects a shared commitment to advancing knowledge, fostering innovation, and contributing significantly to Brunei's economic and educational development.
