Source: Monetary Authority of Singapore, Qatar Financial Centre Regulatory Authority
The Monetary Authority of Singapore (MAS) has signed a Memorandum of Understanding (MOU) with the Qatar Financial Centre Regulatory Authority (QFCRA), the independent regulator of all financial institutions in Qatar Financial Centre.
The MOU provides a formal basis for supervisory cooperation between the two authorities in banking, insurance and capital markets. It paves the way for sharing of supervisory information between the two authorities to strengthen the supervision of cross-border operations of financial institutions under their purview.
The MOU was signed by Mr. Phillip Thorpe, QFCRA Chairman & CEO and Ms Teo Swee Lian, Deputy Managing Director (Prudential Supervision), MAS. The MOU will take immediate effect.