Monetary Authority of Singapore officials visit Sri Lanka to collaborate in digital economy

The Sri Lankan High Commissioner to Singapore Senarath Dissanayake met with the Monetary Authority of Singapore (MAS) Chief Fintech Officer Sopnendu Mohanty and his team on 21 June at the MAS, prior to the visit of the Fintech delegation to Sri Lanka from 25 to 27 June to participate in the DigiEcon Global Investment Summit organised by the Ministry of Technology, Sri Lanka. 

Dissanayake highlighted the importance of this visit to Sri Lanka as the DigiEcon Global Investment Summit 2024 unveils Sri Lanka’s roadmap for tech-driven progress, exploring opportunities in cutting-edge fields alongside Sri Lanka’s commitment to sustainability and inclusivity. Dissanayake also briefed the team on the program that has been arranged by the High Commission during their stay in Sri Lanka. 

The Fintech delegation comprises MAS Chief Fintech Officer Sopnendu Mohanty, MAS Deputy Director Alvinder Singh, Law Asia Founder and Elevandi Board Senior Adviser Dato Paul Supramaniam, and Nanyang Technology University President’s Office Global Marketing and Strategy Director – International Engagement Unit and Elevandi Board Adviser Preeti Dawra.

Mohanty is also the Chairman of the Board of Elevandi, which is a non-profit organisation set up by the MAS that engages with leaders from government, businesses, academia, and civil society to foster international collaborations on technology innovation, application, and adoption.

At the DigiEcon Global Investment Summit on 25 June, Mohanty is expected to join the panel discussion titled “New Models of Investment Accelerating Digital Transformation” on the invitation extended by Technology State Minister Kanaka Herath.

The delegation is also scheduled to meet the President of Sri Lanka to discuss possible collaborative opportunities in the fields of digital public infrastructure, global connectivity for small and medium enterprises (SMEs), and sustainable finance.

A key objective of the Singapore delegation is to explore the possibilities for cross border collaboration with the Government of Sri Lanka and the academia to promote fintech in the digital economy and to promote digital literacy, digital empowerment, and financial inclusivity.

The delegation is also expected to discuss with the University Grants Commission Chairman and representatives from Sri Lankan universities to explore the possibilities to formulate a program to offer Master’s and PhD scholarships to Sri Lankan students to study at the Asian Institute of Digital Finance and Nanyang Technology University in Singapore in the field of digital financial technology.

Singh and Supramaniam attended the meeting on 21 June. The Sri Lankan High Commission in Singapore Minister – Commercial Yasantha Yaddehi was also present.