2024-07-01
In Singapore on June 18, 2024, H.E. Dr. Chea Serey , Governor of the National Bank of Cambodia (NBC) and H.E. Leong Sing Chiong, Deputy Managing Director of the Monetary Authority of Singapore (MAS) announced the start of the Financial Transparency Corridor (FTC) initiative between Cambodia and Singapore.
The FTC commemoration event was held at Istana, Singapore, and was presided over by Samdech Moha BorvorThipadei HUN Manet, Prime Minister of the Kingdom of Cambodia and His Excellency Lawrence WONG, Prime Minister of Singapore, during the official visit by the Prime Minister of the Kingdom of Cambodia to Singapore from June 18 to 19, 2024.
The FTC is a consent-based digital infrastructure and network between financial institutions in Singapore and Cambodia financial institutions (“FIs”), that aims to catalyse increased trade and cross-border related financial services between small and medium-sized enterprises (SMEs) in Singapore and Cambodia. The ease of data accessibility will enable participating financial institutions (FIs) to make better credit risk assessments and facilitate greater availability of financing for SME trade between Singapore and Cambodia.
