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Ministry of Finance and Economy (Brunei)

Coordinates: 4°55′19″N 114°57′07″E / 4.921924123946902°N 114.95185178403685°E / 4.921924123946902; 114.95185178403685
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Ministry of Finance and Economy
Kementerian Kewangan dan Ekonomi

Ministry of Finance and Economy building
Ministry overview
Formed1 January 1984; 40 years ago (1984-01-01)
JurisdictionGovernment of Brunei
HeadquartersBandar Seri Begawan, Brunei
4°55′19″N 114°57′07″E / 4.921924123946902°N 114.95185178403685°E / 4.921924123946902; 114.95185178403685
Annual budgetIncrease$1 billion BND (2022)
Ministers responsible
Deputy Ministers responsible
Websitewww.mofe.gov.bn
Footnotes
[1][2][3][4]

The Ministry of Finance and Economy (MoFE; Malay: Kementerian Kewangan dan Ekonomi) is a cabinet-level ministry in the government of Brunei which is responsible for the monetary, fiscal and economic policies and development in the country. It was established immediately upon Brunei's independence on 1 January 1984.[1] It is currently led by a minister in which the incumbent is Hassanal Bolkiah, the Sultan of Brunei, as well as a second minister and two deputy ministers.

Departments

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The ministry oversees the following departments:[5]

  • Treasury Department (Pejabat Treasury) — obeys the law known as "The 1983 Financial Regulation". The rule also makes reference to later official circulars from MoFE and the Prime Minister's Office;
  • Royal Customs and Excise Department (Jabatan Kastam dan Eksais Diraja; RCED) — leading organisation for the Ease of Doing Business (EODB) indicator Trading Across Borders (TAB);
  • Department of Economic Planning and Statistics (Jabatan Perancangan Ekonomi dan Statistik; DEPS) — in line with Wawasan Brunei 2035, DEPD aims to foster Brunei's sustainable economic growth through visionary planning, innovative implementation involving all societal sectors, and the provision of high-quality, internationally-aligned statistics.

Budget

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In the fiscal year 2022–23, the ministry has been allocated a budget of B$1 billion[d], an eight percent increase from the previous year.[2]

List of ministers

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First minister

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No. Portrait Minister Term start Term end Time in office Ref.
1 Hassanal Bolkiah 1 January 1984 21 October 1986 2 years, 293 days [7]
2 Jefri Bolkiah 21 October 1986 23 February 1997 10 years, 125 days [7]
(1) Hassanal Bolkiah 23 February 1997 incumbent 27 years, 169 days [7][8]

Second minister

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No. Portrait Minister Term start Term end Time in office Ref.
1 Abdul Rahman Ibrahim 24 May 2005 30 January 2018 12 years, 251 days [9]
2 Amin Liew Abdullah 30 January 2018 incumbent 6 years, 193 days [9]

Deputy minister

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No. Portrait Minister Term start Term end Time in office Ref.
1 Ahmad Wally Skinner 21 October 1986 March 2003 16 years [10]
2 Yakub Abu Bakar March 2003 20 September 2004 1 year [11]
3 Bahrin Abdullah 29 May 2010 22 October 2015 5 years, 146 days [12]
4 Hisham Mohd Hanifah 22 October 2015 30 January 2018 2 years, 100 days [13]
5 Amin Liew Abdullah
6 Ahmaddin Abdul Rahman 30 January 2018 7 June 2022 4 years, 128 days [14]
7 Khairuddin Abdul Hamid 7 June 2022 incumbent 2 years, 64 days [15]
8 Pengiran Zety Sufina

See also

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Notes

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  1. ^ The official Malay name upon the appointment was Dato Seri Setia Dr. Awang Haji Mohd. Amin Liew bin Abdullah.[4]
  2. ^ The official Malay name upon the appointment was Awang Haji Khairuddin bin Haji Abdul Hamid.[4]
  3. ^ The official Malay name upon the appointment was Pengiran Hajah Zety Sufina binti Pengiran Dato Paduka Haji Sani.[4]
  4. ^ ≈US$718 million as of July 2022[6]

References

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  1. ^ a b Menon 1987, p. 92.
  2. ^ a b Haris, Nabilah (27 February 2022). "MoFE proposes $1 billion budget for upcoming fiscal year". The Scoop. Archived from the original on 27 February 2022. Retrieved 21 July 2022.
  3. ^ The Scoop (7 June 2022). "HM announces major cabinet shakeup — full list of appointees". The Scoop. Archived from the original on 2 July 2022. Retrieved 21 July 2022.
  4. ^ a b c d Ali Rahman, Muhammad Khairulanwar (8 June 2022). "Perlantikan, Pertukaran Menteri Kabinet, Timbalan Menteri" (PDF). Pelita Brunei (in Malay). No. 67 #69. pp. 3–4. Retrieved 21 July 2022.
  5. ^ "Ministry of Finance and Economy - Departments". www.mofe.gov.bn. Retrieved 22 July 2024.
  6. ^ "1,000,000,000 BND to USD - Bruneian Dollars to US Dollars Exchange Rate". XE.com. Retrieved 21 July 2022.
  7. ^ a b c "Ministry of Finance". The Government of Brunei Darussalam Official Website. Archived from the original on 6 July 2011. Retrieved 27 October 2010.
  8. ^ "Group of 30 :: Resources". group30.org.
  9. ^ a b Scoop, The (30 January 2018). "HM announces surprise cabinet reshuffle - full list of new appointees". The Scoop. Retrieved 30 December 2022.
  10. ^ "Sultanate – News | Negara Brunei Darussalam | His Majesty pays last respects to late Pehin Dato Hj Awg Ahmad Wally Skinner". www.sultanate.com. Retrieved 16 August 2023.
  11. ^ Brunei Darussalam. Broadcasting and Information Department, Ministry of Culture, Youth and Sports. 2003. p. 9.
  12. ^ "Ucapan Setinggi-tinggi Tahniah" (PDF). Ministry of Development Negara Brunei Darussalam. pp. 1–2. Retrieved 14 August 2023.
  13. ^ Hennida, Citra; Wardhana, Agastya; Sahab, Ali; Saadah, Kholifatus; Pratiwi, Fadhila Inas; Ratmoko, Eko (22 December 2020). Respons Negara-Negara Asia Tenggara Terhadap Dominasi China (in Indonesian). Airlangga University Press. p. 204. ISBN 978-602-473-670-5.
  14. ^ "SCENE SETTING SPEAKER IN "THE ROLE OF FINANCIAL LITERACY IN ASEAN'S ECONOMIC PROSPERITY" PANEL DISCUSSION". ASEAN BAC. 2022.
  15. ^ Bandial, Rasidah Hj Abu Bakar, Ain (7 June 2022). "HM: New cabinet must carry out duties with 'full loyalty and responsibility'". The Scoop. Retrieved 14 September 2023.{{cite web}}: CS1 maint: multiple names: authors list (link)
  • Menon, K.U. (1987). "BRUNEI DARUSSALAM IN 1986: In Search of the Political Kingdom". Southeast Asian Affairs. 1987: 85–101. doi:10.1355/SEAA87F. JSTOR 27908570.
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