On 11 July 2023, the Monetary Authority of Singapore (“MAS“) and the National Bank of Cambodia announced that they have signed a Memorandum of Understanding to collaborate on a Financial Transparency Corridor (“FTC“) initiative.
This enhanced trusted information flow will assist SMEs in Singapore and Cambodia to access broader digital trade networks, for instance the Business Sans Border Proxtera global network which is a digital platform that aims to facilitate cross border trade connectivity among emerging market SMEs, thereby providing SMEs with greater trade connectivity within ASEAN and other growth regions.
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