MAS, OJK renew partnership to drive ASEAN FinTech growth

Theartnership focuses on cross-border knowledge sharing and regulatory cooperation.

The Monetary Authority of Singapore (MAS) and Otoritas Jasa Keuangan (OJK) have renewed their partnership with the signing of a memorandum of understanding (MoU) that will further advance the development of FinTech and digital financial assets across ASEAN. 

This builds on their 2018 agreement and strengthens the framework for financial innovation.

Under the renewed MoU, MAS and OJK will share knowledge and best practices, facilitate access for promising FinTech firms to regulatory sandboxes in both countries, and promote cooperation across relevant sectors. The partnership will also enhance cross-border information-sharing for FinTech activities within regulatory boundaries.

Hasan Fawzi, Chief Executive of OJK, commented, “The MOU focuses on cross-border digital finance, ensuring regulatory alignment and market integrity.”

The MoU was signed during a bilateral meeting on 10 November, reinforcing the joint push for innovation in ASEAN’s digital economy.