Economy· Govt· Policy

Singapore and China signed fintech cooperation agreement

minutes 2019/05/15 10:24:47
China Singapore Fintech, MAS, AFF

May 15, 2019 (China Knowledge) - Singapore’s central, Monetary Authority of Singapore (MAS) signed a fintech cooperation agreement with the Asia-Pacific Future Financial Research Institute (AFF), a non-profit organisation and think tank. Both parties will cooperate in promoting academic exchanges, information sharing and research cooperation in fintech.

The agreement was signed on Monday, 13 May 2019 before the FinTech Roundtable, co-organised by MAS and AFF. It aims to encourage greater collaboration between business communities, academia and think tanks from Singapore and China.

According to an official media release by MAS, both parties have also committed to facilitating greater co-operation among financial institutions in Singapore and China to leverage on Fintech to benefit their consumers.

“This agreement is another step towards closer collaboration between the fintech ecosystems of Singapore and China to benefit both consumers and businesses,” said Sopnendu Mohanty who is the MAS chief fintech officer.

Du Tan, AFF executive president, commented that fintech sector requires greater communication and cooperation between countries. Meanwhile, regulators also need to promote financial innovation in order to boost financial inclusion.

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