MAS, IFC, WEF ink MOU on digital financial inclusion

They will create guidelines for digital financial inclusion financing instruments.

The International Finance Corporation (IFC), the Monetary Authority of Singapore (MAS), and the World Economic Forum (the Forum) will collaborate on initiatives to advance digital inclusion through financial services.

Under the Memorandum of Understanding (MOU) inked by the three parties, Financial institutions and fintech companies will help create guidelines for digital financial inclusion financing instruments.

IFC will drive the development of the guidelines covering digital financial inclusion products, assets, and mechanisms. 

MAS, for its part, will explore synergies with its other initiatives to improve financing access for MSMEs in emerging markets. 

Meanwhile, WEF will leverage its international network of government and private sector partners to promote and share these new solutions and learnings.