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Business, Economy

TSMC first-quarter net profit soars

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Saudi Central Bank to collaborate with monetary authority of Singapore in fintech

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By TRENDS Desk
October 19, 2023 8:46 am
  • The agreement seeks to facilitate activities of both organizations in international markets
  • It will also provide a framework for cooperation between their innovation departments

Riyadh, Saudi Arabia – The Saudi Central Bank (SAMA) signed an agreement with the Monetary Authority of Singapore (MAS) on Wednesday, in the fields of fintech and innovation.

The agreement aims to strengthen collaboration between the two organizations. It seeks to facilitate their activities in international markets while respecting the rights and obligation of both, besides providing a framework for cooperation between their innovation departments.

The two organizations will also establish effective mechanisms for sharing information on fintech and innovation, promote their utilization in the markets, and foster coordinated efforts in areas of mutual interest.

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