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Singapore Central Bank- IFSCA India Sign Cooperation Agreement

Published on September 20, 2022
Current Context: The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) signed a Co-operation Agreement (CA) to promote regulatory collaboration and partnership in Financial Technology (FinTech).
Singapore Central Bank- IFSCA India Sign Cooperation Agreement
  • Under the agreement, both parties will utilize their respective Regulatory Sandboxes to assist in the experimentation of technological innovations.
  • The agreement will also permit both organizations to evaluate the worthiness of use cases that could benefit from partnership across multiple jurisdictions and invite relevant jurisdictions to participate in a Global Regulatory Sandbox.
  • MAS is the central bank of Singapore that was established in 1971 with its headquarters at 10 Shenton Way, MAS Building, Singapore.
  • The current Managing Director of the MAS is Ravi Menon and the current Chief FinTech Officer is Sopendu Mohanty.
  • IFSCA is responsible for the development and regulation of financial institutions, financial products, and financial services in the International Financial Services Centre (IFSC), India, and was established in 2020 under the International Financial Services Centres Authority Act, 2019 with its headquarters in the GIFT City, Gandhinagar.
  • The current Chairperson of the IFSCA is Injeti Srinivas.

Question:

Q.1 Recently, the International Financial Services Centres Authority (IFSCA) signed a Co-operation Agreement with the central bank of?
a. Thailand
b. Singapore
c. Vietnam
d. Cambodia
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