The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) will set up a financial transparency corridor (FTC) initiative to facilitate trade and cross border-related financial services for small and medium-sized enterprises (SMEs) in Singapore and Cambodia.
They signed the memorandum of understanding on Tuesday.
Under the initiative, the corridor aims to establish a consent-based digital infrastructure to facilitate information exchange between participating financial institutions in Singapore and Cambodia to support the provision of cross-border financial services to SMEs.
