Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS) have reaffirmed their close ties at the fifth BDCB-MAS Bilateral Roundtable in Brunei Darussalam.
At the meeting, the two central banks discussed global and regional economic developments as well as cooperation in payments connectivity.
They also reviewed plans to mark the 60th anniversary of the Currency Interchangeability Agreement (CIA) in 2027.
During the roundtable, BDCB Managing Director Hajah Rashidah binti Haji Sabtu and MAS Managing Director Chia Der Jiun signed a memorandum of understanding on a reciprocal cross-border collateral arrangement.
The agreement will enable both regulators to accept a broader range of collateral in their liquidity facilities, which is expected to give financial institutions greater flexibility in managing liquidity and support financial stability in both countries.
BDCB Managing Director Hajah Rashidah remarked,
“The Bilateral Roundtable stands as a testament to the strong relationship between BDCB and MAS. It is a valuable platform to enhance collaboration on areas of mutual interest and strategic importance.
As long-standing partners, our continued cooperation is vital in navigating the evolving regional economic landscape.”
MAS Managing Director, Chia Der Jiun said,
“The CBCA MoU further strengthens collaboration between MAS and BDCB and deepens our close bilateral relations.
We look forward to commemorating the 60th Anniversary of the CIA in the near future.”
Featured image: Hajah Rashidah binti Haji Sabtu, Managing Director, BDCB, and Chia Der Jiun, Managing Director, MAS, at the MoU signing ceremony.
