The Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS) have reaffirmed their bilateral cooperation during the fifth BDCB-MAS Bilateral Roundtable in Brunei Darussalam. The event saw both institutions exchanging views on global and regional economic trends and discussing developments in payments connectivity. A key highlight was the signing of a Memorandum of Understanding (MoU) to establish a reciprocal cross-border collateral arrangement (CBCA).
The CBCA will enable both authorities to accept a broader range of collateral in their liquidity provisioning facilities, offering financial institutions in both jurisdictions increased flexibility in liquidity management. This initiative aims to bolster financial stability in Brunei and Singapore. BDCB Managing Director Hajah Rashidah binti Haji Sabtu emphasised the importance of the Roundtable as a platform for enhancing collaboration on mutual interests, stating, “The Bilateral Roundtable stands as a testament to the strong relationship between BDCB and MAS.”
MAS Managing Director Chia Der Jiun expressed appreciation for BDCB’s hosting of the event and highlighted the significance of the CBCA MoU in strengthening bilateral relations. He also noted the upcoming 60th Anniversary of the Currency Interchangeability Agreement (CIA) in 2027 as a milestone for both nations.
The reaffirmation of cooperation between BDCB and MAS underscores the strategic importance of their partnership in navigating the evolving regional economic landscape, ensuring continued financial stability and collaboration.
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