The Monetary Authority of Singapore (MAS) and the Brunei Darussalam Central Bank signed a memorandum of understanding (MOU) to deepen cooperation in banking and insurance supervision on Feb 3.
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, reads the joint statement.
During the meeting, both central banks discussed recent economic and financial developments as well as cooperation in sustainable finance to accelerate climate change mitigation and adaptation in Asean.
Developments in Central Bank Digital Currencies and cross-border payments were also brought up during the meeting.
