(26 April 2018 – Singapore) The Monetary Authority of Singapore (MAS) has partnered with the State Bank of Viet Nam (SBV) to encourage fintech innovation between the two markets.
The new memorandum of understanding (MOU) will facilitate joint innovation projects between the two countries, help fintech companies in either country navigate the regulatory regime and opportunities in the other, and encourage the sharing of information on emerging fintech trends and developments.
MAS and SBV also revised their existing MOU on banking supervision to enhance cooperation in crisis management. “The MOU underscores the two regulators’ shared commitment to safeguarding the financial sectors in Singapore and Vietnam,” the MAS said.