The Hong Kong Monetary Authority ("HKMA") and Monetary Authority of Singapore ("MAS") signed a Memorandum of Understanding ("MoU") on 17 September 2025 to enhance cooperation on banking supervision, aiming to improve the supervision of cross-border bank operations.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On 17 September 2025, the Hong Kong Monetary Authority ("HKMA") and the Monetary Authority of Singapore ("MAS") signed a Memorandum of Understanding ("MoU") to bolster their cooperation on banking supervision.
This MoU aims to strengthen supervisory collaboration and facilitate the exchange of information and mutual assistance between the two authorities, given the substantial presence of banks from both jurisdictions.
Mr Eddie Yue, Chief Executive of the HKMA, underscored the significance of Hong Kong and Singapore as leading international financial centres in the region. The MoU further solidifies their close ties, enhancing supervisory cooperation and information sharing for cross-border banking matters.
Mr Chia Der Jiun, Managing Director of MAS, emphasized that the MoU reaffirms the strong partnership between MAS and the HKMA. It sets the stage for deeper collaboration, fostering supervisory cooperation, information exchange, and the sharing of best practices in critical areas of mutual interest between the authorities.
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