The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding (MOU) to enhance banking supervisory cooperation between the two jurisdictions.
According to a joint statement, the MOU is designed to strengthen regulatory ties and improve the exchange of information and mutual assistance for supervisory purposes. This deeper collaboration is expected to enhance the effective supervision of banks that operate across both Singapore and Hong Kong. Both MAS Managing Director Chia Der Jiun and HKMA Chief Executive Eddie Yue emphasized that the agreement paves the way for greater sharing of best practices in areas of mutual interest.
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