MAS and OJK Strengthen FinTech Collaboration with New MOU
On November 10, 2025, the Monetary Authority of Singapore (MAS) and Otoritas Jasa Keuangan (OJK) took a significant step in enhancing their FinTech collaboration by signing a new Memorandum of Understanding (MOU) focused on FinTech Cooperation. This renewed agreement builds on their previous partnership established in 2018, aiming to bolster financial cooperation and support the ongoing growth of technological innovation in their respective financial sectors.
Goals of the Renewed MOU
This collaboration is set to empower financial institutions and FinTech companies in both Singapore and Indonesia to harness opportunities stemming from advancements in financial technology. Key areas of focus include digital financial assets, artificial intelligence in financial services, and the promotion of both countries as pivotal players in driving ASEAN’s digital economy.
Key Initiatives Under the New Agreement
The renewed MOU outlines several specific initiatives designed to facilitate this collaboration:
- Exchange of knowledge and best practices between MAS and OJK.
- Promotion of cooperation among relevant financial sectors in both nations, encouraging active involvement of sector bodies.
- Inclusion of promising FinTech companies in each other’s regulatory sandboxes.
- Enhancement of information flow across borders for FinTech companies operating within authorized scopes, adhering to applicable laws and regulations.
Insight from MAS Leadership
Mr. Leong Sing Chiong, Deputy Managing Director of MAS, commented on the long-standing partnership: “OJK and MAS have consistently worked together to enhance regional financial cooperation. Our mutual commitment to fostering innovation and developing FinTech ecosystems positions us to better serve our markets. This MOU is a pivotal step in modernizing our collaboration and driving economic growth.”
OJK’s Commitment to Responsible Innovation
Mr. Hasan Fawzi, General Manager for Financial Sector Technology Innovation at OJK, emphasized the significance of the partnership: “This MOU underscores OJK’s commitment to responsible innovation. By advancing cross-border digital finance while ensuring strong consumer protection and market integrity, we aim to foster sustainable growth through digital finance in Indonesia and Singapore.”
Fostering Economic Growth in ASEAN
The overarching goal of this partnership is to stimulate innovation that supports micro, small, and medium enterprises (MSMEs), enhances financial inclusion, and catalyzes sustainable growth in the ASEAN region. Through joint pilot projects and shared knowledge on areas such as regulatory frameworks, digital assets, and AI in financial services, both authorities plan to build a robust FinTech landscape.
Conclusion: A New Era for FinTech in Southeast Asia
The signing of the MOU on the sidelines of a bilateral meeting marks a new era in FinTech collaboration between Singapore and Indonesia. With shared visions and strategic initiatives, MAS and OJK are poised to lead the charge in expanding the digital financial landscape in Southeast Asia while ensuring sustainability and consumer protection remain at the forefront.
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