Rwanda and Singapore strengthen cooperation in FinTech

Editor —
December 12, 2020
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The Ministry of Trade & Industry (MINICOM) and Monetary Authority of Singapore (MAS)) signed a mutual agreement for the Ministry of Trade and Industry (MINICOM) to be involved in the implementation of the international and open platform project, dubbed Business sans Borders (BSB).
This will strengthen greater cooperation in FinTech innovation, trade and business development between Rwanda and Singapore. MAS is Singapore’s central bank, integrated financial regulator and a global leader in supporting FinTech ecosystems and development.
The Agreement will help to facilitate a framework for FinTech collaboration between both countries. This platform is expected to enable additional development of the e-commerce and Small and Medium-Sized Enterprise (SME) sector in Rwanda and increase cross-border supply of goods from Rwanda. It will help to put in place an intelligent referral mechanism to help FinTech firms access each other’s markets.

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