ADGM, Monetary Authority of Singapore sign MoU

Abu Dhabi

Abu Dhabi Global Market (ADGM) and the Monetary Authority of Singapore (MAS) announced plans to strengthen the supervision of cross-border operations of banking institutions under their purview by establishing a strategic supervisory framework to share information.

The two entities signed Memorandum of Understanding in this regard on the sidelines of the Annual Abu Dhabi Singapore Joint Forum held on Thursday in Abu Dhabi, hosted by the UAE Executive Affairs Authority.

“This partnership is an extension of our commitment to creating and facilitating more cross-border business, growth and investment opportunities between the two markets,” said Richard Teng, Chief Executive Officer, ADGM Financial Services Regulatory Authority in a press statement.