MNB signs agreement with monetary authority of Singapore
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The National Bank of Hungary (MNB) yesterday said had it signed a cooperation agreement with the Monetary Authority of Singapore (MAS), Singaporeʼs central bank, to strengthen cooperation in FinTech innovation between the countries, according to an announcement on the website of the central bank.
The agreement lays out a framework for FinTech collaboration between both countries and establishes a referral mechanism to help FinTech companies access each otherʼs markets.
MNB and MAS also committed to exchange views on FinTech trends in emerging markets as well as on regulatory issues on financial services innovation. The agreement was signed at the World FinTech Festival in Budapest, held in partnership with the Singapore FinTech Festival 2020.
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