Memorandum of Understanding

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. As a central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector. As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors and financial market infrastructures. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

The Israel Fintech Center –IFC is an NGO (reg. # 580572519), established in 2013 and fully authorized by the Ministry of Justice in Israel. IFC, formerly known as City TLV, represents the entire ecosystem of Fintech in Israel, including: innovators, established companies, regulators, financial institutions & services, investors, academia, consultants, and more. It is generously supported by a select group of strategic partners as well as membership fees. In 2021 IFC won the prestigious governmental bid to serve as the administrator of Fintech.IL Innovation Community, a joint venture of the Bank of Israel, the Ministries of Finance and of Industry and Economy, the Israel Securities Authority, the Innovation Authority and the National Digital Israel Initiative (Gov.il).