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Singapore, Myanmar to cooperate in banking sector

Central banks of Singapore and Myanmar have decided to cooperate in banking supervision and capacity building. The governments of the two countries have entered into a memorandum of understanding in this regard. Recently the Central Bank of Myanmar and the Monetary Authority of Singapore had exchanged views on developing an inter-bank funding market, and discussed ways to deepen technical cooperation in banking and capital markets supervision. Apart from the area of finance, Singapore and Myanmar also agreed on cooperation for the legal sector. Both countries will jointly organise legal workshops, seminars, as well as attachments to share best practices, and enhance understanding of the legal frameworks of both countries.

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