Singapore inks fintech innovation deal with Cambodia

Both countries will share information on emerging market trends and financial regulatory issues.

The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) signed a memorandum of understanding (MOU) to strengthen cooperation in fintech innovation between both countries, an announcement revealed.

Under the MOU, both countries will share information on emerging market trends and developments in FinTech, as well as regulatory issues pertaining to innovation in financial services. The two authorities will work together to conduct joint training sessions to share expertise to foster cross-border cooperation.

“This will also allow us to share experiences and information related to FinTech to better manage and reap the benefit from the new innovation in financial technology in order to enhance payment system and promote financial inclusion,” H.E. Neav Chanthana, deputy governor of NBC, said in a statement.