The Monetary Authority of Singapore (MAS) has signed a fintech cooperation agreement (CA) with the Autoriti Monetari Brunei Darussalam (AMBD) to facilitate fintech cooperation between Brunei Darussalam and Singapore.

The agreement was signed by AMBD managing director Yang Mulia Yusof bin Hj Abd and MAS deputy managing director Jacqueline Loh.

Besides boosting information sharing between the two countries, the agreement is expected to encourage joint innovation projects.

It will also help to provide a basic framework to the monetary authorities in assisting the fintech companies to comply with the applicable regulations in both the jurisdictions.

Both the authorities also agreed to collaborate to improve retail payment ecosystem between Brunei Darussalam and Singapore.

They will work under the cooperation framework to ensure mutual benefits to businesses and consumers of both the countries.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last week, MAS partnered with the Economic Development Board (EDB), Infocomm Media Development Authority (IMDA) and Institute of Banking and Finance (IBF) to accelerate artificial intelligence (AI) technology adoption in the country’s financial sector.

MAS is responsible to encourage sustained and non-inflationary economic growth in the country by using monetary instruments and macroeconomic surveillance and analysis.

It is responsible to manage official foreign reserves, liquidity in the banking sector and Singapore’s exchange rate.