The Monetary Authority of Singapore (MAS) and Indonesia’s Otoritas Jasa Keuangan (OJK) have signed a new Memorandum of Understanding (MOU) to deepen their collaboration in FinTech and digital financial assets. This agreement, signed on 10 November 2025, builds upon a previous MOU from 2018 and aims to foster technological innovation in the financial sector of both countries.
The partnership is set to benefit financial institutions and FinTech firms by leveraging developments in digital financial assets and artificial intelligence. It also seeks to position Singapore and Indonesia as pivotal nodes in ASEAN’s digital economy. Key initiatives under the MOU include the sharing of knowledge and best practices, promoting industry cooperation, and facilitating cross-border information flow for FinTech firms operating within legal frameworks.
Leong Sing Chiong, Deputy Managing Director of MAS, emphasised the longstanding partnership between the two organisations, stating, “We share the same commitment to fostering innovation, addressing barriers, and developing FinTech ecosystems to better serve our markets and across ASEAN.”
Hasan Fawzi, Chief Executive of Financial Sector Technological Innovation at OJK, highlighted the importance of responsible innovation, saying, “Through joint pilots and knowledge-sharing in areas such as Regulatory Sandboxes, digital financial assets, and sustainable innovations, we aim to foster innovations, ensure consumer protection, support MSMEs, and catalyse sustainable growth.”
The MOU signing occurred during a bilateral meeting, underscoring the ongoing commitment of both nations to advance digital finance and support economic growth in the region.
