Bandar Seri Begawan, 23 January 2020… Autoriti Monetari Brunei Darussalam (AMBD) and the Monetary Authority of Singapore (MAS) yesterday committed to new areas of cooperation, with the signing of an enhanced Memorandum of Understanding (MoU) on Bilateral Cooperation at the 3rd AMBD-MAS Bilateral Roundtable.
2 The MoU, signed by AMBD Managing Director Rokiah Badar and MAS Managing Director Ravi Menon, builds on the longstanding cooperation between both countries in many areas, including the Currency Interchangeability Agreement. New areas of cooperation include financial sector development, cross-border supervision, crisis management, AML/CFT, as well as currency management and operations.
3 At the Roundtable, AMBD and MAS discussed recent economic, monetary and financial developments, FinTech collaboration and currency management.
About the Monetary Authority of Singapore As Singapore's central bank, the Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore's exchange rate, official foreign reserves, and liquidity in the banking sector. As Singapore's integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry. About the Autoriti Monetari Brunei DarussalamAutoriti Monetari Brunei Darussalam (AMBD) acts as the central bank of Brunei Darussalam, carrying four main objectives; to achieve and maintain domestic price stability; to ensure the stability of the financial system, in particular by formulating financial regulations and prudential standards; to assist in the establishment and functioning of efficient payment systems and to oversee them; and to foster and develop a sound and progressive financial services sector.
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