Singapore's Deputy Prime Minister Heng Swee Keat inaugurated the Asian Institute of Digital Finance (AIDF) which is a new research institute hosted by the National University of Singapore (NUS) and supported by the Monetary Authority of Singapore (MAS), and the National Research Foundation (NRF). The AIDF will offer a Master's degree and award scholarships to outstanding students to pursue research at the doctoral level, as well as train post-doctoral fellows in digital finance and fintech. In order to enhance the financing of small businesses to enable a stronger post-pandemic recovery, the AIDF will further develop a data sharing platform to improve credit assessments that hinges on data distributed across multiple firms while preserving data privacy.