MAS enters into a financial cooperation agreement with Brunei's Autoriti Monetari.

The Monetary Authority of Singapore, the city-state's financial regulatory body, has entered into a bilateral cooperation agreement with its counterpart in Brunei.

The memorandum of understanding signed with Autoriti Monetari Brunei Darussalam means that both institutions will cooperate on capital market development and capacity building, as well as exchange views and practises on monetary management and operations, human resources, information technology, banking supervision and payment and settlement, according to a statement.

The MoU builds on existing deals between the two countries, including the Currency Interchangeability Agreement between Brunei Darussalam and Singapore and the bilateral dialogue between the two financial bodies. 

The deal was concurrent with His Majesty the Sultan and Yang Di-Pertuan of Brunei and Her Majesty Raja Isteri Pengiran Anak Hajah Saleha's three-day visit to Singapore to meet with President Tony Tan Keng Yam and Prime Minister Lee Hsien Loong to reinforce partnerships, particularly in areas of economy, defence, education, health, finance and the youth.