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MAS signs MoU with Dubai Financial Services Authority

The Monetary Authority of Singapore has signed a memorandum of understanding with the Dubai Financial Services Authority, which regulates financial services in the Dubai International Financial Center.

The memorandum of understanding (MoU) provides a formal basis for supervisory co-operation between the Monetary Authority of Singapore (MAS) and Dubai Financial Services Authority in banking, insurance and capital markets.

The MoU facilitates the exchange of information for supervisory purposes between the two authorities. Such co-operation reportedly helps to strengthen the supervision of cross-border operations of financial institutions under their purview.