Brunei’s stock exchange signals more global approach to diversification

Transcript

Brunei’s stock exchange is scheduled to open later this year, sparking renewed international interest in the small – but wealthy – island nation. The initiative should help the government’s ongoing efforts to diversify the economy. Baiduri Bank’s Pierre Imhof explains the progress that authorities have made towards launch, and what the stock exchange represents for the future of Brunei.

Watch the rest of our interview with Pierre Imhof here.

World Finance: I’m with Pierre Imhof, CEO of Baiduri Bank, and we’re discussing Bruneian industry.

What’s the latest on the development of the stock exchange?

Pierre Imhof: The authorities are making significant progress, from what I understand, on the technical and the infrastructure aspect of developing a stock exchange. It’s a part of a more global approach that the country has to develop its capital markets activities. There is of course another aspect: if you have a stock exchange you need to have clients, so it’s important also that in parallel it attracts interest by companies to be listed.

World Finance: Brunei is the last ASEAN country to create its own stock exchange; what does it represent for the future of the economy?

Pierre Imhof: Brunei has the means to develop further its capital markets activities. There is already an Islamic product – sukuk, the equivalent of bonds – in Brunei. And I think that the objective is to create a bigger, more developed, and more diversified capital market environment. Which we, of course, support.

World Finance: Pierre, thank you.

Pierre Imhof: Thank you.