Singapore and Brunei central banks expand areas of cooperation

New areas for collaboration include currency interchangeability and financial sector development.

The Monetary Authority of Singapore (MAS) and the Autoriti Monetari Brunei Darussalam (AMBD) have committed to expand their areas of cooperation, according to the news release.

The two central banks inked a memorandum of understanding (MoU) on bilateral cooperation at the 3rd AMBD-MAS Bilateral Roundtable, particularly on currency interchangeability, financial sector development, cross-border supervision, crisis management, AML/CFT, and currency management.

MAS and AMBD also discussed recent economic, monetary and financial developments during the roundtable.