How will the pact enhance the competence of staff in both central banks?

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The pact will build staff competence through joint training, study visits, and research exchanges.

The agreement between the Monetary Authority of Singapore and the Bank of Thailand sets out competency-building as one of three cooperation areas. It will do so through joint training, study visits, and research exchanges, alongside information sharing and operational preparedness work.
Joint training is one of the main tools named in the deal

The two central banks said they will conduct joint training under the memorandum of understanding. That makes training a direct part of the cooperation framework, rather than an informal side activity.

The text does not spell out the exact curriculum, duration, or target staff groups. It only states that the training sits within a wider effort on cybersecurity and digital fraud.
Study visits will give staff exposure to each other’s practices

Study visits are listed alongside joint training and research exchanges as part of competency-building. In practical terms, this means staff from both sides will have opportunities to observe how the other central bank handles cyber-related work.

No further details are given on where the visits will take place or what departments will be involved. The agreement simply places them inside the cooperation framework announced on July 24.
Research exchanges will support shared learning on cyber risks

Research exchanges are another named component of the pact. They are meant to sit together with training and study visits as part of the broader effort to strengthen competence.

The arrangement also includes exchange of regulatory and incident updates, plus threat intelligence affecting the financial sector. That gives staff access to more information on cyber risks and digital fraud, while the agreement separately provides for cross-border cybersecurity and crisis management exercises.
Operational preparedness is the third pillar of the framework

The memorandum covers operational preparedness as well as information sharing and competency-building. The two central banks will carry out cross-border cybersecurity and crisis management exercises under this part of the deal.

Those exercises are intended to place staff in practical scenarios involving cyber threats and crisis response. The deal does not give a timetable, but it does set out a formal framework for cooperation between Singapore and Thailand’s central banks.

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How will the pact enhance the competence of staff in both central banks?

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