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Singapore and Kenya Establish Cooperation on Developing Digital Infrastructure at Inaugural Afro-Asia FinTech Festival

July 26, 2019

The Monetary Authority of Singapore (MAS) and the Central Bank of Kenya (CBK) have inked a FinTech Cooperation Agreement to support digital infrastructure development in Kenya. The two central banks will collaborate to develop basic digital infrastructure services for Kenya, including identity, data and Know-Your-Customer utility, based on a set of common standards. The cooperation was sealed at the inaugural Afro-Asia FinTech Festival in Nairobi, Kenya, which drew close to 2,000 participants from all over the world.