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This division was previously known as Economic and Finance Planning and Development Division with the main role of overseeing issues related to economic and financial planning and development for Brunei Darussalam.

In 2012, the division name was changed to International, Economic and Finance Planning and Research Division (PE), in which the International Section from the International, Media and Cabinet Division in Prime Minister’s Office was integrated into the above division.

In 2015, with the reshuffling of the membership of Cabinet Ministers, the International Division function was taken over by Ministry of Foreign Affairs and Trade. The division was then renamed to Economic and Finance Division (EK), in which the main function was to monitor and coordinate economic development initiatives in order to ensure Wawasan Brunei 2035 is implemented effectively.