The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) have launched the Financial Transparency Corridor (FTC) initiative to facilitate trade and cross-border financial services for small and medium-sized enterprises (SMEs) between the two countries. The FTC is a consent-based digital network connecting financial institutions in Singapore and Cambodia, designed and run by Proxtera Pte Ltd. The initiative aims to improve data accessibility, enabling financial institutions to make more accurate credit risk assessments and boost financing options for SME trade between Singapore and Cambodia. Participating financial institutions include ANEXT Bank, Advanced Bank of Asia, Liquid Group, Sing Investments & Finance Limited, ACLEDA Bank PLC, Phillip Bank PLC, Sathapana Bank PLC, and Wing Bank PLC. The next phases of the initiative will explore green finance and trade finance to enhance trade capabilities for both countries. MAS and NBC signed an MoU in July 2023 to support the FTC initiative.
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