MAS, Abu Dhabi Global Market sign cooperation agreement to foster fintech innovation

Singapore

AN agreement to foster closer cooperation on initiatives that nurture financial technology (fintech) entrepreneurship, as well as to support innovation in financial services in both Singapore and Abu Dhabi, was signed on Wednesday by the Monetary Authority of Singapore (MAS) and Abu Dhabi Global Market (ADGM) of the United Arab Emirates.

The cooperation agreement establishes a strategic framework for both regulators to assist start-ups and innovators to better understand the regulatory regime in each jurisdiction and provide support through the application and authorisation process.