The Monetary Authority of Singapore (MAS) and Indonesia's Financial Services Authority (Otoritas Jasa Keuangan, OJK) signed a renewed Memorandum of Understanding on Cooperation in Financial Technology, extending their 2018 arrangement and broadening bilateral collaboration on FinTech innovation. The updated cooperation explicitly covers areas including digital financial assets and the use of artificial intelligence in financial services. The MOU sets out practical mechanisms for cooperation, including sharing supervisory knowledge and best practices, promoting engagement between financial institutions, FinTech firms and industry bodies in both countries, referring suitable firms to participate in each other’s regulatory sandboxes, and facilitating cross-border information flows when FinTech firms operate within their licensed scope of activities in line with applicable laws and regulations.
Monetary Authority of Singapore 2025-11-10
Monetary Authority of Singapore and Indonesia's Financial Services Authority renew FinTech cooperation MOU covering digital financial assets and AI
The Monetary Authority of Singapore and Indonesia's Financial Services Authority renewed their Memorandum of Understanding on Cooperation in Financial Technology, expanding their 2018 agreement to include digital financial assets and artificial intelligence in financial services. The MOU outlines mechanisms for cooperation, such as sharing supervisory knowledge, promoting industry engagement, and facilitating cross-border information flows.