Brunei, MAS reassert close bilateral ties

The Brunei Darussalam Central Bank (BDCB) and Monetary Authority of Singapore (MAS) have reaffirmed the bilateral relations between the two countries at the fourth BDCB-MAS Bilateral Roundtable earlier this month.

The central banks’ representatives, BDCB Managing Director Rokiah Badar, and MAS Managing Director Ravi Menon, signed a Memorandum of Understanding (MoU) to foster better information exchange and cross-border inspections of banks and insurers operating across the two countries.

“The MOU solidifies existing longstanding relationships between BDCB and MAS in the field of financial sector development and stability,” Badar said.

Badar and Menon also discussed economic and financial developments across the ASEAN region, promoted cross-border cooperation on sustainable finance initiatives to fast-track net zero transition and considered updates in central bank digital currencies (CBDCs) and enabling cross-border payments.

“We had a good exchange of views, further strengthening the very good relations between MAS and BDC,” Menon said.