Sin­ga­pore, Abu Dhabi cen­tral banks tie up

Banking Frontiers - - News Regulator -

Abu Dhabi Global Mar­ket (ADGM) and the Mon­e­tary Author­ity of Sin­ga­pore (MAS) an­nounced plans to strengthen the su­per­vi­sion of cross-border op­er­a­tions of bank­ing in­sti­tu­tions un­der their purview by es­tab­lish­ing a strate­gic su­per­vi­sory frame­work to share in­for­ma­tion. The two en­ti­ties signed a MoU on the side­lines of the an­nual Abu Dhabi Sin­ga­pore Joint Fo­rum held re­cently. Richard Teng, CEO, ADGM Fi­nan­cial Ser­vices Reg­u­la­tory Author­ity said this part­ner­ship is an ex­ten­sion of ADGM’s com­mit­ment to cre­at­ing and fa­cil­i­tat­ing more cross-border busi­ness, growth and in­vest­ment op­por­tu­ni­ties be­tween the two mar­kets.

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