MAS and CBIRC Strengthen Supervisory Cooperation at Annual Roundtable
Singapore, 8 December 2021… The Monetary Authority of Singapore (MAS) and the China Banking and Insurance Regulatory Commission (CBIRC) reaffirmed their close ties and commitment to strengthen supervisory cooperation at their annual MAS-CBIRC Supervisory Roundtable today. The Roundtable, in its 11th year, was held via video conference and chaired by MAS’ Deputy Managing Director Ms Ho Hern Shin and CBIRC’s Vice Chairman Mr Zhou Liang.
2. During the Roundtable, MAS and CBIRC discussed regulatory and supervisory developments in the banking and insurance sectors in each both jurisdictions. Both regulators also discussed opportunities for furthering collaboration in the areas of green finance, and the recovery and resolution planning for systemically important banks.
3. Ms Ho said, “MAS deeply values the partnership that we have with the CBIRC. The Roundtable provides an invaluable annual platform for senior supervisors from both agencies to better understand each other’s supervisory approaches, exchange views in areas of shared interest, and strengthen cooperation.”
Opening Remarks by Mr Ravi Menon, Managing Director of MAS, at the 25th Anniversary Celebration of IMF-Singapore Regional Training Institute
The partnership will focus on finding ways to better mobilise financing to make digital services more affordable and accessible for underserved individuals and communities, and MSMEs, with the support of financial institutions and FinTech companies.
Mr Ravi Menon, Managing Director, MAS, spoke on MAS' efforts to build three foundational digital infrastructures, as well as MAS’ collaboration with UNDP to maximise opportunities for MSMEs.