The Monetary Authority of Singapore and the Central Bank of Egypt have signed an agreement to strengthen co-operation between the two countries regarding financial technology.

The agreement was signed at Seamless North Africa 2018 (under the patronage of the Egyptians), a conference focused on payments, FinTech and e-commerce. It smooths the process by which both parties can refer FinTech companies, the better to support them as they enter each other's markets. It also sets forth rules by which the MAS and the Egyptian central bank can explore potential joint innovation projects and share information on emerging FinTech trends. As Singapore is a bustling FinTech hub and Egypt is not, one might expect the traffic to go largely in one direction.