The deal was among the flurry of agreements signed by the Monetary Authority of Singapore (MAS) to boost the republic's cooperation with global counterparts.
MAS signed a cooperation agreement with the Bank of Ghana (BOG) to help SMEs and micro-SMEs in Singapore and Ghana achieve sustainable growth for the post-COVID 19 pandemic recovery, via the Business sans Borders (BSB) and Financial Trust Corridor (FTC) initiatives.
BSB, launched by MAS and the Infocomm Media Development Authority, is designed to connect different platforms globally to help SMEs seamlessly access a much larger ecosystem of buyers and sellers. It uses artificial intelligence to integrate trade discovery and flows.
At the same time, the two sides will also work on a complementary Financial Trust Corridor (FTC) initiative to build greater trust, trade and recognition between both countries’ businesses and financial institutions, the announcement said.
