MAS, Brunei central bank ink MOU to deepen financial industry cooperation 

MAS managing director Ravi Menon said that they had “a good exchange of views.”

The Monetary Authority of Singapore (MAS) and the Brunei Darussalam Central Bank (BDCB) have signed a memorandum of understanding (MOU) to deepen cooperation in banking and insurance supervisors.

BDCB managing director Rokiah Bakar and MAS managing director Ravi Menon inked the MOU, which is expected to facilitate the effective supervision of banks and insurers operating across the two jurisdictions, including through information exchange and cross border on-site inspections.

BDCB and MAS also exchanged views on recent economic and financial developments;
cooperation in sustainable finance to accelerate climate change mitigation and adaptation in
ASEAN; as well as developments in Central Bank Digital Currencies and cross-border payments, according to a joint press release.

“We had a good exchange of views, further strengthening the very good relations between MAS and BDCB,” said Menon on the roundtable.