Singapore, Egypt sign fintech cooperation pact
THE CENTRAL banks of Singapore and Egypt have signed a cooperation agreement on Fintech.
Under the agreement, the Monetary Authority of Singapore (MAS) and the Central Bank of Egypt (CBD) may refer fintech companies to each other so that the companies can better understand the regulatory regime in each country. The pact also establishes a framework for exploring joint innovation projects and for sharing information on emerging fintech trends.
"The fintech ecosystems in Singapore and Egypt have their unique set of opportunities, and this agreement signifies MAS' and CBE's commitment to accelerate the growth of fintech through collaboration and knowledge-sharing," MAS chief fintech officer Sopnendu Mohanty said in a statement.
"We believe that this will create more opportunities for FinTech firms between our countries."
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal