MAS I IFSCA MAS & India's IFSCA to engage in fintech innovations
Gandhinagar/IBNS: The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) on Sunday signed a cooperation agreement to facilitate regulatory collaboration and partnership in fintech.
This will promote regulatory sandbox collaboration to support experimentation of technology innovations, and sharing of data such as non-supervisory related information and developments on innovation in financial products and services.
The agreement will also allow MAS and IFSCA to evaluate the suitability of use cases which could benefit from collaboration across multiple jurisdictions, and invite relevant jurisdictions to participate in a Global Regulatory Sandbox.
The agreement was witnessed by Finance Minister of Gujarat Kanubhai Desai and Singapore's Deputy Prime Minister Lawrence Wong, who is also Singapore's Minister of Finance and Deputy Chairman at MAS.
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