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- MAS
- Media Releases
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- Singapore, 25 August 2016... The Monetary Authority of Singapore (MAS) today released a consultation paper on proposed changes to the payments regulatory framework and establishment of a National Payments Council. Proposed Activity-Based Payments Framework 2 Singapore’s payment regulations currently cut across two pieces of legislation: the Payment Systems (Oversight) Act (PS(O)A) and the Money-changing and Remittance Businesses Act (MCRBA), which govern stored value and remittances respectively
- MAS
- Speeches
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- 1 Mr Speaker, on behalf of the Minister-In-Charge of MAS, I beg to move, “That the Bill be now read a second time”. 2 The Bill makes amendments to the Currency Act in two areas. First, the legal tender limits for coins. Second, the offence of mutilation of currency notes, to enable the Ministry of Home Affairs (MHA) to license companies that sell Intelligent Banknote Neutralisation Systems (IBNS) or offer cash transportation services using IBNS. Legal Tender Limits for Coins 3 First, the legal
- MAS
- Speeches
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- Distinguished guests, ladies and gentlemen, good morning. And to all our foreign guests, a warm welcome to Singapore. The sun is shining on Islamic finance. Let me highlight three promising global developments. First, Islamic finance continues to grow rapidly. The industry grew at double digits last year, as it has for the previous five years, despite global economic uncertainties and market volatility. Global Islamic financial assets are estimated to have reached US$1.8 trillion by the end of
- MAS
- Media Releases
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- Singapore, 17 February 2016… The Monetary Authority of Singapore (MAS) and the National Trades Union Congress (NTUC) today announced the formation of the Financial Sector Tripartite Committee (FSTC). Reflecting the spirit of tripartism, the FSTC will bring together the industry associations, labour movement, and government to foster a financial workforce that can meet the changing needs of the financial industry. 2 The FSTC is co-chaired by Ms Jacqueline Loh, Deputy Managing Director, MAS, and
- MAS
- Speeches
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- Mr Lester Gray Chairman Investment Management Association of Singapore Mr Chan Lee Mun Principal & CEO Nanyang Polytechnic Distinguished guests Ladies & Gentlemen Good afternoon. Introduction 1 I am pleased to join you today for the MOU signing ceremony between Nanyang Polytechnic (NYP) and the Investment Management Association of Singapore (IMAS). 2 I would like to commend IMAS and NYP for joining hands to provide training in the areas of fund management and administration. With its focus
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback: Proposed Amendments to the Definition of Carrying on Insurance Business (15.8 KB) Consultation Paper VIEW DOCUMENT Proposed Amendments to the Definition of Carrying on Insurance Business (53.3 KB) RESPONSE TO FEEBBACK RECEIVED CONSULTATION PAPER ON THE PROPOSED AMENDMENTS TO THE INSURANCE ACT ON THE DEFINITION OF CARRYING ON AND SOLICITATION OF INSURANCE BUSINESS 1 Introduction 1.1 On 11 May 2009, MAS issued a consultation
- MAS
- Notices
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- Notice issued under the Payment Services Act 2019 that set out requirements on technology risk management. It sets out requirements for a high level of reliability, availability and recoverability of critical IT systems and for such entities to implement IT controls to protect customer information from unauthorised access or disclosure. See also: FAQs - Notice on Technology Risk Management Response to Public Feedback for Consultation Paper - Notice on TRM (481.8 KB) Amendment Notes There are no amendment
- MAS
- Speeches
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- Mrs Josephine Teo, Minister for Manpower, members of the IBF Council, ladies and gentlemen, welcome to IBF. IBF will be turning 45 this year. It is hard to imagine the financial sector today without the IBF. Not all countries have the equivalent of an IBF. Fewer still have as strong a collaboration as we do here in IBF – among financial institutions and between financial institutions and the regulator. And all for a common cause that has been consistent for the last 45 years – to equip the professionals
- MAS
- Circulars
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- Provides information on the scope of RMB business that banks and merchant banks can conduct in Singapore. View Annex A (117.6 KB) 22 Oct 2013 FSG Circular No. BD 04/2013 dated 23 May 2013 (131.7 KB) [Cancelled] FSG Circular No. BD 08/2013 22 October 2013 The Chief Executive Officers of All Banks The Chief Executive Officers of All Merchant Banks Dear Sir / Madam CONDUCT OF RENMINBI (RMB) BUSINESS IN SINGAPORE This circular replaces FSG Circular No. BD 04/2013 issued
- PDPC
- Public Consultations
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- Page 1 of 22 – PART II: REVIEW OF DNC PROVISIONS AND THE SCA THE LAW SOCIETY OF SINGAPORE’S COMMENTS ON THE PERSONAL DATA PROTECTION COMMISSION (PDPC)’S PUBLIC CONSULTATION PAPER FOR MANAGING UNSOLICITED MESSAGES & PROVISION OF GUIDANCE TO SUPPORT INNOVATION IN THE DIGITAL ECONOMY -------- Page 2 of 22 – PART II: REVIEW OF DNC PROVISIONS AND THE SCA Question 1: Executive summary i. ii. We support the joining of the DNC