Brunei Darussalam is urging policymakers and financial institutions to balance innovation with trust and resilience as technological disruptions and geopolitical uncertainty reshape the global financial landscape.
Awang Mohd Amin Liew Abdullah, the Southeast Asian nation’s Minister of Finance II, said rapid technological advances, interconnected financial markets, demographic shifts, climate risks and changing investor expectations are transforming the global financial system at an unprecedented pace.
“These developments present enormous opportunities. They also place greater responsibilities on all of us entrusted with shaping the future of our financial systems,” he said in his keynote speech at the 4th Annual ASEAN Forum on July 28.
The forum held in Brunei Darussalam was jointly organised by the Brunei Institute of Leadership and Islamic Finance and Asia Asset Management. The theme was “Innovation, Integration and Growth in an Age of Transition”.
Liew cautioned that while technological breakthroughs can emerge almost overnight, it takes years to build strong institutions.
“It is often easier to build new technology than enduring institutions. Institutions are built patiently, decision by decision, year after year.”
Liew also highlighted regional cooperation as an essential ingredient for long-term growth.
“Asia has always understood that our greatest strength lies not only in the size of our economies, but also in our ability to work together,” he said.
