of Monetary Authority of Singapore (MAS) and the National Financial Regulatory Administration (NFRA) held a meeting in Suzhou, China, and reaffirmed their efforts to strengthen supervisory cooperation.
The MAS-NFRA Supervisory Roundtable was held in-person for the first time since 2020 and was held in conjunction with the 30th anniversary celebration of Suzhou Industrial Park.
The discussion, co-chaired by MAS Deputy Managing Director Ho Han Hsin and NFRA Deputy Minister Chou Liang, discussed supervisory priorities for banks operating in both jurisdictions, updates to NFRA’s insurance supervisory framework, The development of the asset management sector was covered.
The institutions also reflected on two years of enhanced cooperation, including staff deployments, research visits, and knowledge sharing on topics such as technology resilience, digital assets, artificial intelligence, and green finance.
Mr. Ho said,
“Regular roundtables between MAS and NFRA demonstrate the strong relationship between both institutions and our commitment to effectively coordinate and monitor regulated financial institutions operating in both jurisdictions.
We are pleased to resume face-to-face interactions this year as we continue to work together to maintain fiscal stability in our respective jurisdictions. ”
Featured image credit: Edited from freepic
