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Brunei

Yearbook 1998

Brunei. According to Countryaah, the international financial crisis with roots in Asia also hit the normally prosperous oil kingdom of Brunei. Sultan Hassanal Bolkiah's younger brother, Prince Jefri Bolkiah, ended up in blustery weather since one of the companies he controlled, the construction and consulting group Amedeo, made losses estimated at several billion dollars.

1998 Brunei

Assessors believed that Brunei was now facing its worst financial crisis since independence was proclaimed in 1984. The Minister of Justice resigned and some of the leading people in the Brunei Investment Agency, a company that manages the sultan family's assets worldwide, were forced to resign. Prince Jefri Bolkiah lost some of his former positions of power in favor of his Muslim right-leaning brother Mohamed Bolkiah. He already held the post of Foreign Minister and was now appointed chairman of the Economic Council appointed to seek to save family wealth. Supporters of Prince Jefri Bolkiah claimed that the prince was appointed a scapegoat and that Brother Mohamed imperceptibly wants to transform Brunei into a strictly Muslim state.

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