MAS

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14 digital bank applications to progress to next stage of assessment: MAS

14 of the 21 digital bank applications received by the Monetary Authority of Singapore (MAS) have met the eligibility criteria required for...

Singapore

Singapore economy expected to shrink 5.8% in 2020: MAS survey

GDP growth is expected to recover to 4.8 per cent in 2021.

Singapore

Singapore facing most severe recession in history: MAS Ravi Menon

With this year's GDP growth forecast at –4 to –7 per cent, Singapore is facing the most severe recession in history, said Ravi Menon,...

Covid-19

MAS launches SGD 1.75 million FinTech challenge focusing on COVID-19 and climate change

Themed “Building Resilience, Seizing Opportunities, Emerging Stronger”, the MAS Global FinTech Innovation Challenge aims to promote...

Singapore

MAS to develop fairness metrics in usage of AI for credit risk scoring and customer marketing

MAS has announced the commencement of the first phase of the Veritas initiative – a framework for financial institutions to promote the...

Singapore

MAS launches SGD6 million grant to help FinTech companies amid COVID-19 pandemic

Called the MAS-SFA-AMTD FinTech Solidarity Grant, the initiative is a joint effort by MAS, Singapore FinTech Association (SFA), AMTD Group...

Covid-19

Singapore to enter recession this year: MAS

The Singapore economy had contracted by 2.2 per cent year-on-year in Q1 2020.

Singapore

Financial services to remain open in Singapore amid new restrictions to battle coronavirus outbreak

Banking services will continue to be available through online channels, ATMs and bank branches.

Covid-19

Financial institutions should strengthen safe distancing measures: MAS

Financial Institutions in Singapore have been asked to actively encourage all customers to use electronic platforms (such as online or...

Covid-19

21 applications for digital bank licences received: MAS

At the close of application on December 31, 2019, the Monetary Authority of Singapore (MAS) received 21 applications for digital bank...

Singapore

Eminent Indian-origin financial economist appointed as MAS term professor at NUS

Eminent financial economist Professor Amit Seru has been appointed by the National University of Singapore (NUS) and the Monetary Authority...

Singapore

MAS warns against website soliciting bitcoin investments

The Monetary Authority of Singapore (MAS) issued an advisory warning people about a website that has been soliciting investments in...

Singapore

Financial solutions need to be embedded in people’s lives: MAS Ravi Menon

For financial inclusion initiatives to stick, central banks and regulators need to ensure that FinTech offers interoperable solutions.

Singapore

MAS, Deloitte team up to create industry-wide FinTech research platform

The aim of the platform is to help investors and financial institutions connect with FinTech​ start-ups that they can partner with or...

Singapore

MAS successfully develops blockchain for multi-currency payments

The novel platform has the potential to improve cost efficiencies for businesses.

Singapore

Singapore eases monetary policy for the first time since 2016

The Monetary Authority of Singapore (MAS) eased monetary policy for the first time in three years on Monday, October 14.

Singapore

New guidelines to strengthen cybersecurity in Singapore’s financial industry

The Monetary Authority of Singapore (MAS) has issued a set of legally binding requirements to raise the standards and strengthen the cyber...

Singapore

Singapore Central Bank chief Ravi Menon’s term extended for two years

The term of Ravi Menon as the managing director of the Monetary Authority of Singapore (MAS) has been extended for two more years.

Personal Finance

MAS transfers SGD45 billion to Singapore government from official foreign reserves

The Monetary Authority of Singapore (MAS) made the announcement today that it would be transferring SGD45 billion from the official foreign...

Singapore

MAS unveils Year of the Boar coins in Singapore

The Monetary Authority of Singapore (MAS) today unveiled the 2019 Year of the Boar Almanac coins, the third issue in the Singapore Fourth...

Singapore

International experts discuss pros and cons of digital currencies

Leading international and local academics convened in Singapore discussed about how digital currencies will impact monetary policy and...

Singapore

Five quick and easy ways to remit money back to India

It is right in the midst of Diwali season, and money transfers back to India are in full flow. With the large Indian population in Singapore...

Personal Finance

MAS warns against fraudulent emails impersonating the central bank

The Monetary Authority of Singapore (MAS) has issued an advisory warning the public of fraudulent emails purportedly sent from the financial...

Singapore

MAS warns of fraudulent website soliciting bitcoin investments

The fraudulent site asks readers to sign up for a Bitcoin account and requests for credit card or bank account details.

Singapore

Indian origin ex-OCBC employee banned by MAS for unauthorised trading

Former trading representative of OCBC Securities, Prem Hirubalan, has been banned by the Monetary Authority of Singapore (MAS) for...

Singapore