MAS and BDF Agree to Strengthen Financial Cooperation
MAS and BDF announced that BDF will open an Asian office in Singapore in early 2020. The office of BDF in Singapore aims to provide enhanced monitoring of Asian financial systems and to forge closer relations with central banks and financial authorities in the Asia-Oceania region. ACPR, BDF, and MAS will also sign a Memorandum of Understanding to enhance cooperation in cyber-security by regular information-sharing on cyber incidents and threat intelligence. These steps will deepen financial linkages and foster closer cooperation in key areas.
The Asian office of BDF in Singapore will be its second office abroad after the New York office, which opened in 2010. BDF is expanding its presence in Asia in response to the growing importance of the region in the global economy and financial markets. BDF will also set up a dealing room to strengthen its operational capacity to better serve international official sector entities in the Asian time zones. The signing of the Memorandum by ACPR, BDF, and MAS will take place on the sidelines of the Singapore FinTech Festival and Singapore Week of Innovation and Technology (SFF x SWITCH) 2019.
Keywords: Asia Pacific, Europe, Singapore, France, Banking, Cybersecurity, Cyber Risk, MoU, ACPR, BDF, MAS
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