MAS Signs MOU with The State Bank of Vietnam

Singapore, 30 January 2008...The Monetary Authority of Singapore (MAS) has signed a Memorandum of Understanding (MOU) with the State Bank of Vietnam (SBV).

2. The MOU enhances bank supervisory cooperation between the two authorities, and deepens banking sector linkages between the two economies. It is one of several initiatives to enhance economic and financial cooperation between Vietnam and Singapore under the Vietnam-Singapore Connectivity Agreement.

3. The MOU was signed by Mr. Tran Minh Tuan, Deputy Governor (Banking Supervision), SBV, and Ms. Teo Swee Lian, Deputy Managing Director (Prudential Supervision), MAS. The MOU will take immediate effect.

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