City of London and MAS Agree Memorandum of Understanding for Data Connectivity and Cyber Security
The Monetary Authority of Singapore (MAS) has agreed a Memorandum of Understanding (MoU) with the UK’s City of London, in a bid to streamline cooperation surrounding data connectivity, talent development, cybersecurity and green finance.
The agreements, which were agreed at the Singapore Business Summit held in London, signify the parties’ intention to work together to facilitate data-flows, build cross-border “know your customer” processes, develop skills in the financial sector and promote green finance.
Commenting on the agreements, Tharman Shanmugaratnam, Senior Minister and Coordinating Minister for Social Policies and Chairman of MAS said:
“The initiatives we are working on – data flows and governance, cyber security, skills development, and green finance – will enable continued dynamism and stability in Singapore’s and London’s financial centres. I look forward to the continuing, active collaborations between our authorities as well as between our partners in the financial industry.”