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Beneficial Ownership Transparency in Brunei Darussalam: A Path Towards Greater Clarity
Brunei Darussalam, a small but significant player in Southeast Asia’s financial landscape, has recently taken steps to enhance its commitment to beneficial ownership transparency. In a move aimed at bolstering trust and reducing illicit financial flows, the country has implemented key reforms.
A Commitment to Transparency
As of August 12, 2024, Brunei Darussalam is committed to creating one or more beneficial ownership registers. This commitment marks a significant shift towards greater transparency in the country’s financial dealings. By implementing such registers, Brunei Darussalam joins a growing list of nations striving to bring clarity to complex corporate structures.
Key Benefits of Beneficial Ownership Transparency
- Enhances trust and confidence in the financial sector
- Reduces illicit financial flows
- Increases accountability within the financial sector
Implementation Details
The central register of controllers, also known as One Common Portal, has been established to facilitate the collection and dissemination of beneficial ownership information. This platform aims to provide a centralized hub for accessing data on company controllers, thereby enhancing transparency and accountability within the financial sector.
Features of the One Common Portal
- Provides a centralized hub for accessing data on company controllers
- Facilitates the collection and dissemination of beneficial ownership information
- Enhances transparency and accountability within the financial sector
Commitment to Further Detail
While Brunei Darussalam’s commitment to beneficial ownership transparency is notable, there may be additional details available regarding its implementation. For more in-depth information or to report inaccuracies, we encourage users to submit their feedback through our official form. This will enable us to maintain the accuracy and comprehensiveness of our data on Open Ownership maps.
How to Provide Feedback
- Visit our official form
- Submit your feedback or report any inaccuracies
- Help us maintain the accuracy and comprehensiveness of our data