Brunei Darussalam Central Financial institution (BDCB) and the Financial Authority of Singapore (MAS) have reaffirmed their shut ties on the fifth BDCB-MAS Bilateral Roundtable in Brunei Darussalam.
On the assembly, the 2 central banks mentioned world and regional financial developments in addition to cooperation in funds connectivity.
Additionally they reviewed plans to mark the sixtieth anniversary of the Forex Interchangeability Settlement (CIA) in 2027.
Through the roundtable, BDCB Managing Director Hajah Rashidah binti Haji Sabtu and MAS Managing Director Chia Der Jiun signed a memorandum of understanding on a reciprocal cross-border collateral association.
The settlement will allow each regulators to simply accept a broader vary of collateral of their liquidity services, which is anticipated to offer monetary establishments larger flexibility in managing liquidity and help monetary stability in each nations.
BDCB Managing Director Hajah Rashidah remarked,
“The Bilateral Roundtable stands as a testomony to the sturdy relationship between BDCB and MAS. It’s a helpful platform to boost collaboration on areas of mutual curiosity and strategic significance.
As long-standing companions, our continued cooperation is significant in navigating the evolving regional financial panorama.”
MAS Managing Director, Chia Der Jiun mentioned,
“The CBCA MoU additional strengthens collaboration between MAS and BDCB and deepens our shut bilateral relations.
We sit up for commemorating the sixtieth Anniversary of the CIA within the close to future.”
Featured picture: Hajah Rashidah binti Haji Sabtu, Managing Director, BDCB, and Chia Der Jiun, Managing Director, MAS, on the MoU signing ceremony.
