SG, Cambodia launch Financial Transparency Corridor initiative

The initiative will facilitate increased collaboration between SMEs in the two markets.

The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) signed a Memorandum of Understanding (MoU) to collaborate on a Financial Transparency Corridor (FTC) Initiative.

The initiative aims to provide support and facilitate trade between small and medium sized enterprises (SMEs) through the establishment of supporting digital infrastructures in Singapore and Cambodia.

“Under the FTC, a Singapore financial institution, in assessing financing support for a Singapore SME buyer’s cross-border business with a Cambodian SME seller, can utilise the FTC to acquire trusted information from a Cambodian financial institution on the Cambodian SME seller.” the MAS said.