The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) and Monetary Authority of Singapore (MAS) today (September 17) announced the exchange of a Memorandum of Understanding (MOU) on banking supervisory co-operation.

     The HKMA and MAS have been collaborating on banking supervision closely over the years. The MOU strengthens the supervisory co-operation and facilitates the exchange of information and mutual assistance for supervisory purposes between the two authorities. Given the significant presence of Hong Kong and Singapore banks in both jurisdictions, such co-operation enhances the supervision of cross-border operations of banks under the purview of both authorities.

     The Chief Executive of the HKMA, Mr Eddie Yue, said, "Hong Kong and Singapore are the two leading international financial centres in the region. The signing of the MoU reinforces the close ties between the two authorities and enhances supervisory co-operation and information sharing in respect of cross-border banking matters in both jurisdictions."

     The Managing Director, MAS, Mr Chia Der Jiun, said, "This MoU reaffirms the strong partnership between MAS and the HKMA and paves the way for deeper collaboration, fostering supervisory co-operation, exchange of information and sharing of best practices in key areas of mutual interest between the authorities."

Ends/Wednesday, September 17, 2025
Issued at HKT 12:00

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