Brunei Darussalam Central Bank and Monetary Authority of Singapore Deepen Cooperation in Financial Supervision
The Brunei Darussalam Central Bank (BDCB) and Monetary Authority of Singapore (MAS) reaffirmed the close ties between the two authorities at the fourth BDCB-MAS Bilateral Roundtable, and discussed new areas of collaboration.
At the Roundtable, BDCB Managing Director, Rokiah Bakar and MAS Managing Director, Ravi Menon signed a Memorandum of Understanding (MoU) to deepen cooperation in banking and insurance supervision. The MoU will facilitate the effective supervision of banks and insurers operating across the two jurisdictions, including through information exchange and cross border on-site inspections.
BDCB and MAS also exchanged views on recent economic and financial developments, cooperation in sustainable finance to accelerate climate change mitigation and adaptation in ASEAN, as well as developments in Central Bank Digital Currencies and cross-border payments.
Ms Rokiah Badar remarked, “The MOU solidifies existing longstanding relationships between BDCB and MAS in the field of financial sector development and stability.”
Mr Ravi Menon said, “We had a good exchange of views, further strengthening the very good relations between MAS and BDCB.”
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