Singapore, Myanmar central banks sign banking supervision MOU

Singapore

SINGAPORE and Myanmar's central banks will cooperate in banking supervision and capacity building, said the Ministry of Trade and Industry (MTI) on Monday, after the two countries signed a Memorandum of Understanding (MOU) in Yangon, Myanmar.

At the 5th Singapore-Myanmar Joint Ministerial Working Committee (JMWC) meeting on July 6, both sides - the Central Bank of Myanmar and the Monetary Authority of Singapore - exchanged views on developing an interbank funding market and discussed ways to deepen technical cooperation in banking and capital markets supervision.