International Cooperation

MAS and the UK agreed to deepen financial collaboration at the UK-Singapore Business Summit

13 June 2019

The collaboration included facilitating data flows, enhancing cross-border “know-your customer” process, developing skills, and promoting green finance and cyber security.

MAS and Banque de France (BDF) announced their intention to strengthen financial cooperation

12 November 2019

The cooperation would deepen financial linkages and foster closer cooperation in key areas such as cybersecurity. BDF would open its Asian office in Singapore in the second half of 2020.

Bank for International Settlements (BIS) launched its Innovation Hub Centre in Singapore

13 November 2019

BIS launched its Innovation Hub Centre in Singapore to foster innovation and collaboration among the global central banking community and develop innovative public goods. The Singapore Centre marked BIS’ first expansion of its global footprint in 17 years. The two initial projects for the Singapore Centre were : a) establishing a framework for public digital infrastructures to support inclusive financial services; and b) creating a digital platform connecting regulators and supervisors with technology solution providers to address regulatory challenges.

MAS and the Federal Reserve Bank of San Francisco co-organised the 12th Symposium on Asian Banking and Finance entitled “Banking for the Common Good”, in Singapore

3-4 June 2019

The Symposium was attended by about 100 senior policymakers, regulators, bankers, academics and other industry practitioners to discuss the impact of banking services on the function and well-being of society. There were active discussions on sustainable finance, financial inclusion, and cyber-security.

The inaugural Shanghai-Singapore Comprehensive Cooperation Council was held to discuss key areas of financial collaboration between Shanghai and Singapore

21 May 2019

The Council was co-chaired by Deputy Prime Minister Heng Swee Keat and Shanghai Mayor Ying Yong. Key areas of financial collaboration discussed included innovative cross-border RMB solutions, capital markets connectivity, FinTech collaboration and the establishment of FIs in each other’s markets.

Singapore identified new areas of financial cooperation initiatives at the 15th Joint Council for Bilateral Cooperation (JCBC), co-chaired by DPM Heng Swee Keat and China’s Vice Premier Han Zheng

15 October 2019

The new areas included enhanced bond market access for DBS; support from the People’s Bank of China to enhance RMB market liquidity in Singapore; and enabling designated Singapore and Chinese banks to offer custody and trading services for foreign investors seeking to invest in China’s bond market through Singapore.

MAS signed a Supervisory MOU with the China Banking and Insurance Regulatory Commission (CBIRC) to enhance supervisory cooperation and information exchange

21 October 2019

The MOU, signed at the CBIRC-MAS Supervisory Roundtable, sought to enhance supervisory cooperation and facilitate the sharing of best practices in the areas of banking and insurance supervision, and crisis management between China and Singapore.

2nd China-Singapore Financial Summit in Chongqing fostered greater connectivity between Western Region of China and ASEAN

4 November 2019

More than 500 government officials, central bankers, financial sector professionals and corporate leaders from China and ASEAN gathered at the second China-Singapore (Chongqing) Connectivity Initiative (CCI) Financial Summit in Chongqing. They discussed ways to enhance finance and trade linkages between China’s Western region and Southeast Asia. The theme of the Summit was Financial Connectivity along the “Belt and Road” ─ Financial Opening and Innovation to Promote the New International Land Sea Trade Corridor (ILSTC).

MAS and the China Securities Regulatory Commission (CSRC) held the 4th Supervisory Roundtable to promote greater cross border capital market activities and deepen cooperation

27 December 2019

MAS and CSRC agreed to continue fostering greater cross-border capital market activities between Singapore and China and deepen supervisory cooperation. Other topics of discussion at the roundtable included the use of data analytics in capital market supervision and application of blockchain technology.

MAS hosted the 55th SEACEN Governors’ Conference / High-Level Seminar and the 39th Meeting of the SEACEN Board of Governors, with a focus on the digital economy

13 and 14 November 2019

Mr. Agustín Carstens, General Manager, Bank for International Settlements (BIS) delivered the keynote address for the conference.

MAS and Bangko Sentral ng Pilipinas (BSP) agreed to explore cooperation in cross-border payments and data connectivity at their inaugural bilateral meeting in Singapore

2 October 2019

MAS and Bank Negara Malaysia (BNM) agreed to explore cooperation in cyber resilience, payments, organisational development, financial integration, monetary stability and green finance at their bilateral meeting in Singapore

9 October 2019

MAS and the Autoriti Monetari Brunei Darussalam (AMBD) agreed on an enhanced Memorandum of Understanding (MOU) that included new areas of cooperation such as financial sector development, cross-border supervision, crisis management, AML/CFT, currency management and operations at the third bilateral meeting in Brunei

22 January 2020