MAS, UN unit team up for Asean digital finance with a social mission

Singapore

THE Monetary Authority of Singapore (MAS) has sealed a partnership with a United Nations unit to encourage the development of and access to digital financial services in Asean.

The partnership comes under the auspices of the Shaping Inclusive Finance Transformations (Shift) programme of the United Nations Capital Development Fund (UNCDF). Under it, MAS will work with UNCDF on the digitisation of low-tier financial institutions in the region, particularly in extending last-mile distribution of financial services, the two agencies said in a joint statement.