Indonesia-Singapore Agree on a Transnational Banking Supervision

Tempo Interactive, Tuesday, 23 November, 2010 | 14:55 WIB

TEMPO Interactive, Jakarta:Bank Indonesia and the Monetary Authority of Singapore (MAS) have agreed on a transnational banking supervision framework. The MoU between the two authorities was signed by Bank Indonesia Governor Darmin Nasution and MAS Managing Director Heng Swee Keat in Bali, Saturday last week.

Darwin said that cooperation is important as part of the country’s effort in facing the global financial crisis impact. The cooperation would be in the form of discussions and information exchanges between the two authorities. A similar agreement has been signed with Bank Negara Malaysia (Malaysian Central Bank).

AGUS SUPRIYANTO

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