A new sovereign addition to the Asian ratings game?

Brunei has become the latest Asian nation to consider an international credit rating, following in the recent footsteps of Mongolia and Papua New Guinea.

The key difference between Brunei and its most recent predecessors is that while it too is very small, it is also very rich. According to a small number of investment banks that have been pressing their case, the country is said to have been mulling the idea of a rating for a number of years, but has never progressed very far because it has no real need for funds.

This may now be changing as the Sultanate is keen to promote its new international financial centre set up late last year in competition with Malaysia's Labuan. The two are also currently considering forming an Islamic financial market...

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